Matthew Bradley Henson, Chief Accounting Officer of Cullen/Frost Bankers, Inc. (NYSE:CFR), filed a Form 4 on October 26, 2026, disclosing transactions in common stock and restricted stock units dated October 24, 2026.

Key Highlights

  • RSU vesting: 707 restricted stock units were converted (transaction code M) into 707 shares of common stock at a price of $0 on October 24, 2026.
  • Tax withholding: 173 shares were disposed of (transaction code F) at $157.05 per share on October 24, 2026, reducing directly held shares to 851.
  • Direct ownership following transactions: Henson directly held 851 shares of common stock after the reported transactions.
  • Indirect ownership: Henson also held 6,592.548 shares indirectly through a 401(k) Plan.
  • Depositary shares: Henson held 5,545 depositary shares, each representing a 1/40th interest in a share of Cullen/Frost's 4.450% Non-Cumulative Perpetual Preferred Stock Series B.
  • RSU balance: Following the vesting, Henson's remaining directly held restricted stock units stood at 0.

Henson RSU Cliff Vest and Share Withholding at Cullen/Frost Bankers

According to the filing, Matthew Bradley Henson, identified as Chief Accounting Officer of Cullen/Frost Bankers, Inc., reported two transactions in common stock on October 24, 2026. The first was an acquisition of 707 shares (code M) resulting from the conversion of restricted stock units at a price of $0 per share. Prior to this transaction, the filing reflects a direct holding that rose to 1,024 shares following the acquisition.

The filing further discloses that 173 shares were disposed of (code F) at a price of $157.05 per share on the same date, which the filing's structure indicates represents shares withheld for tax purposes. After this disposal, Henson's direct beneficial ownership of common stock stood at 851 shares. The restricted stock units that vested had cliff vested three years from the date of grant, according to the filing's explanation of responses. Each restricted stock unit represented the right to receive one share of Cullen/Frost common stock, as noted in the filing.

In addition to direct common stock holdings, the filing reports that Henson indirectly held 6,592.548 shares through a 401(k) Plan. Henson also held 5,545 depositary shares directly, with the filing noting that each depositary share represents a 1/40th interest in a share of Cullen/Frost's 4.450% Non-Cumulative Perpetual Preferred Stock Series B. The Form 4 was signed on October 26, 2026, by Kirsten Irwin under a power of attorney on behalf of Matt Henson.

What Was Disclosed

The filing reported the October 24, 2026 cliff vesting of 707 restricted stock units into common shares, the withholding of 173 shares at $157.05 each, and resulting beneficial ownership of 851 direct shares, 6,592.548 indirect shares via a 401(k), and 5,545 depositary shares for Henson.