SEC Form 4 · accession 0001209191-17-012620
CULLEN/FROST BANKERS, INC. · CFR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick B Frost
Officer — President of Frost Bank · Director
Period of report
Feb 17, 2017
Accepted (ET)
Feb 21, 2017 · 4:06 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000039263
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.01 par value | Feb 17, 2017 | M | 13,000 | $48.85 | A | 162,197 | D | |
| Common Stock, $0.01 par valueF1 | Feb 17, 2017 | S | 13,000 | $92.94 | D | 149,197 | D | |
| Common Stock, $0.01 par valueF2 | holding | — | — | — | 630 | I | By Spouse | |
| Common Stock, $0.01 par value | holding | — | — | — | 3,855 | I | Custodian for Children | |
| Common Stock, $0.01 par valueF3 | holding | — | — | — | 121,406 | I | Through Trust | |
| Common Stock, $0.01 par valueF4 | holding | — | — | — | 1,486 | I | Through Limited Liability Company | |
| Common Stock, $0.01 par valueF5 | holding | — | — | — | 26,276 | I | Through Trust | |
| Common Stock, $0.01 par value | holding | — | — | — | 33,063 | I | Through 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy) | $48.85 | Feb 17, 2017 | M | 13,000 | D | Oct 22, 2011 | Oct 22, 2017 | Common Stock | 13,000 | 0 | D |
Explanation of responses
- F1The price in Column 4 is based on a weighted average price. The prices actually paid range from $92.77 to $93.10. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- F2Mr. Frost disclaims beneficial ownership of these shares.
- F3Reflects limited partnership ("LP") interests held by a trust of which Mr. Frost is the sole trustee and Mr. Frost is a beneficiary. The number of shares reported assumes that each LP interest represents a proportionate interest in the shares of common stock in which the LP has a pecuniary interest.
- F4The number of shares reported assumes each limited liability company interest represents a proportionate interest in the shares of common stock in which the limited liability company has a pecuniary interest. Mr. Frost is the manager of the limited liability company.
- F5Reflects LP interests held by a trust of which Mr. Frost is the sole trustee and Mr. Frost and his children are beneficiaries. The number of shares reported assumes that each LP interest represents a proportionate interest in the shares of common stock in which the LP has a pecuniary interest.