Carol J. Severyn's Stock Transactions in Cullen/Frost Bankers, Inc.

On October 25, 2025, Carol J. Severyn, GEVP and Chief Risk Officer of Cullen/Frost Bankers, Inc., engaged in several stock transactions. She acquired 2,045 shares of common stock through a transaction coded as 'M' and disposed of 804 shares at a price of $124.86 per share through a transaction coded as 'F'. Additionally, she disposed of 2,045 restricted stock units (RSUs) that were cliff vested three years from the grant date of October 25, 2022. Following these transactions, Severyn directly owned 12,342 shares of common stock and indirectly owned 9,201.46 shares through the company's 401(k) plan. The RSUs represented the right to receive one share of Cullen/Frost common stock each.