Cullen/Frost (NYSE: CFR) GC updates 700-share sale after Rule 144 error
Rhea-AI Filing Summary
CULLEN/FROST BANKERS, INC. Group EVP and General Counsel Coolidge E. Rhodes Jr. reported an adjustment related to a previously disclosed stock sale. The filing shows a rescission of a prior sale of 700 shares of common stock and a new sale of the same 700 shares at $127.00 per share on March 6, 2026, following a broker error involving a missed Rule 144(h) notice. After these transactions, he held 5,310 shares directly and 790.22 shares indirectly through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Rhodes Coolidge E JR
Role
Group EVP General Counsel/Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock, $0.01 par value | 700 | $0.00 | $0.00 |
| Other | Common Stock, $0.01 par value | 700 | $127.00 | $89K |
| holding | Common Stock, $0.01 par value | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.01 par value — 4,610 shares (Direct);
Common Stock, $0.01 par value — 790.22 shares (Indirect, Through 401(k) Plan)
Footnotes (1)
- F1. This report reflects the rescission of the sale previously reported on December 10, 2025, which was reported to have occurred on December 9, 2025. The transaction was rescinded because the broker failed to timely file a Notice of Proposed Sale under Rule 144(h), a necessary condition to the completion of the sale. On March 6, 2026, following discovery of this error, the broker rescinded the previously reported sale through its broker's error account and effected a sale of the same number of shares at the same price as the rescinded transaction.
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FAQ
What did the CFR Form 4 filing report for Coolidge E. Rhodes Jr.?
The Form 4 for CULLEN/FROST BANKERS, INC. (CFR) reports a rescinded prior sale of 700 common shares and a new sale of the same 700 shares. Both actions were recorded on March 6, 2026, correcting an earlier broker error.
Why was the earlier CFR stock sale by Rhodes rescinded?
The earlier sale was rescinded because the broker failed to file a required Rule 144(h) Notice of Proposed Sale. This notice was a necessary condition to complete the original transaction, so the broker reversed it once the error was discovered.
What new transaction was executed in the CFR Form 4?
After rescinding the original sale, the broker executed a new sale of 700 common shares at $127.00 per share on March 6, 2026. This new transaction matched the share count and price of the rescinded sale.
What transaction code was used in the CFR Form 4 filing?
The Form 4 lists the events with transaction code "J", described as an "Other acquisition or disposition" of non-derivative common stock. This reflects the combination of rescinding a prior sale and completing a new sale at the same terms.
What role does Rhodes hold at CULLEN/FROST BANKERS, INC.?
Coolidge E. Rhodes Jr. is identified as a Group Executive Vice President, General Counsel, and Secretary of CULLEN/FROST BANKERS, INC. His Form 4 therefore reflects transactions by a senior officer of the company.