Paul Bracher's Stock Transactions in Cullen/Frost Bankers, Inc.

Paul Bracher, President of CFR, reported several transactions involving Cullen/Frost Bankers, Inc. (CFR) common stock and restricted stock units on October 25, 2025. Bracher acquired 2,796 shares of common stock at $0 per share, increasing his direct holdings to 108,064 shares. He also disposed of 1,100 shares at $124.86 per share, reducing his direct holdings to 106,964 shares. Additionally, Bracher disposed of 2,796 restricted stock units, which represented the right to receive common stock, bringing his holdings of these units to zero. Bracher also indirectly owns 50,916.769 shares through a 401(k) plan. The restricted stock units were part of a cliff vesting plan that vested three years from the grant date of October 25, 2022.