Dan Geddes, GEVP and Chief Financial Officer of Cullen/Frost Bankers, Inc., filed a Form 4 on October 26, 2026, reporting transactions in common stock and restricted stock units dated October 24, 2026.

Key Highlights

  • RSU vesting: Geddes acquired 2,004 shares of common stock through the vesting (transaction code M) of restricted stock units at a price of $0, on October 24, 2026.
  • Tax withholding disposition: 789 shares were disposed of (transaction code F) at $157.05 per share on October 24, 2026, consistent with the filing's share-withholding entry.
  • Direct holdings after transactions: Geddes directly owned 4,523 shares of common stock following the reported transactions.
  • Indirect holdings: Geddes also held 7,889.431 shares indirectly through the Cullen/Frost Bankers 401(k) Plan.
  • Thrift Stock Plan: According to the filing, the direct share total includes 150 shares acquired through the Cullen/Frost Bankers, Inc. Thrift Stock Plan.
  • RSU structure: The filing states each restricted stock unit represented the right to receive one share of Cullen/Frost common stock, and the units "cliff vested three years from the date of grant."

Cullen/Frost CFO Geddes Reports RSU Vesting and Share Withholding on October 24, 2026

According to the Form 4 filed with the SEC on October 26, 2026, Dan Geddes, identified in the filing as GEVP and Chief Financial Officer of Cullen/Frost Bankers, Inc. (NYSE:CFR), reported two non-derivative transactions and one derivative transaction all dated October 24, 2026. The issuer is listed in the filing as Cullen/Frost Bankers, Inc. with ticker symbol CFR.

The derivative transaction recorded in Table II reflects the vesting of 2,004 restricted stock units under transaction code M. The filing notes that the RSUs had a conversion price of $0 and that they "cliff vested three years from the date of grant." Following the vesting, the filing shows zero restricted stock units remaining directly held. In Table I, the corresponding acquisition of 2,004 shares of common stock (par value $0.01) at $0 is recorded, bringing direct holdings to 5,312 shares before the withholding entry. The filing also notes that the 5,312 figure includes 150 shares acquired through the Cullen/Frost Bankers, Inc. Thrift Stock Plan.

Separately, 789 shares were disposed of at $157.05 per share under transaction code F, reducing direct beneficial ownership to 4,523 shares. In addition, the filing reports 7,889.431 shares held indirectly through the Cullen/Frost Bankers 401(k) Plan. The Form 4 was signed by Kirsten Irwin under a power of attorney on behalf of Daniel J. Geddes.

What Was Disclosed

Cullen/Frost Bankers CFO Dan Geddes disclosed the vesting of 2,004 restricted stock units and the withholding of 789 shares at $157.05 on October 24, 2026, resulting in direct ownership of 4,523 shares and indirect holdings of 7,889.431 shares through the company's 401(k) Plan.