Carol Jean Severyn, Group Executive Vice President and Chief Risk Officer of Cullen/Frost Bankers, Inc., filed a Form 4 on October 26, 2026, reporting the vesting of restricted stock units and a related tax-withholding share disposition that occurred on October 24, 2026.

Key Highlights

  • RSU vesting: 3,685 restricted stock units converted to common shares on October 24, 2026, at a price of $0, reported under transaction code M.
  • Shares withheld for taxes: 1,451 shares were disposed of on October 24, 2026, at $157.05 per share under transaction code F.
  • Direct holdings after transactions: Severyn directly held 14,946 shares of Cullen/Frost common stock following the reported transactions.
  • Indirect holdings: Severyn also held 9,388.264 shares indirectly through a 401(k) Plan.
  • RSU terms: According to the filing, each restricted stock unit represented the right to receive one share of common stock, and the units "cliff vested three years from the date of grant."
  • Issuer: Cullen/Frost Bankers, Inc., traded on NYSE:CFR.

Severyn RSU Cliff Vest and Tax Share Withholding at Cullen/Frost Bankers

According to the Form 4 filed with the SEC on October 26, 2026, Carol Jean Severyn, serving as Group Executive Vice President and Chief Risk Officer of Cullen/Frost Bankers, Inc. (NYSE:CFR), reported two transactions in the company's common stock, each dated October 24, 2026. The transactions stemmed from the vesting of restricted stock units previously awarded to her.

The filing indicates that 3,685 restricted stock units were converted to an equal number of shares of Cullen/Frost common stock (par value $0.01 per share) under transaction code M at a price of $0. The filing explains that each restricted stock unit "represents the right to receive one share of Cullen/Frost common stock" and that the units "cliff vested three years from the date of grant." Immediately following that conversion, 1,451 shares were disposed of under transaction code F at a price of $157.05 per share, a transaction type associated with shares withheld by the issuer to cover tax obligations upon vesting.

After both transactions, the filing reports Severyn directly owned 14,946 shares of common stock. In addition, she held 9,388.264 shares indirectly through a 401(k) Plan. The Form 4 was signed by Kirsten Irwin under a power of attorney on behalf of Carol J. Severyn, and was filed on October 26, 2026. No derivative securities remained outstanding following the reported transactions, according to the filing.

What Was Disclosed

The filing disclosed the October 24, 2026, vesting of 3,685 RSUs into common shares and the withholding of 1,451 shares at $157.05 per share for taxes, leaving Severyn with 14,946 directly held shares and 9,388.264 shares indirectly held through a 401(k) Plan.