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CULLEN/FROST BANKERS INC. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and CULLEN/FROST BANKERS INC.’s Form 8-K (Item 5.07 on EDGAR). Page generated 02 October 2026.

16Reported items
474Asset managers
6,713Fund votes
2025-04-30Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore CULLEN/FROST BANKERS INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by CULLEN/FROST BANKERS INC.

These tallies are CULLEN/FROST BANKERS INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

CULLEN/FROST BANKERS INC. — official shareholder meeting results, meeting held 2025-04-30
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Hope Andrade	52,557,377	678,610	73,991	--	5,625,035	Majority: yes
Elect Director: Chris M. Avery	51,905,582	1,334,534	69,862	--	5,625,035	Majority: yes
Elect Director: Anthony R. Chase	51,429,930	1,785,829	94,219	--	5,625,035	Majority: yes
Elect Director: Cynthia J. Comparin	52,648,488	583,667	77,823	--	5,625,035	Majority: yes
Elect Director: Samuel G. Dawson	51,950,843	1,277,414	81,721	--	5,625,035	Majority: yes
Elect Director: Crawford H. Edwards	52,996,968	233,369	79,641	--	5,625,035	Majority: yes
Elect Director: John T. Engates	53,172,826	55,257	81,895	--	5,625,035	Majority: yes
Elect Director: Phillip D. Green	51,832,816	1,418,544	58,618	--	5,625,035	Majority: yes
Elect Director: David J. Haemisegger	52,130,578	1,098,957	80,443	--	5,625,035	Majority: yes
Elect Director: Charles W. Matthews	49,328,558	3,869,255	112,165	--	5,625,035	Majority: yes
Elect Director: Joseph A. Pierce	51,918,599	1,294,306	97,073	--	5,625,035	Majority: yes
Elect Director: Linda B. Rutherford	51,924,005	1,302,181	83,792	--	5,625,035	Majority: yes
Elect Director: Jack Willome	51,967,444	1,226,466	116,068	--	5,625,035	Majority: yes
(2) To provide nonbinding approval of executive compensation.	50,909,698	1,782,930	617,350	--	5,625,035	Majority: yes
(3) To ratify the selection of Ernst & Young LLP to act as independent auditors of the Company for the fiscal year that began January 1, 2025.	57,692,473	1,173,607	68,933	--	--	Majority: yes

Source: CULLEN/FROST BANKERS INC., Form 8-K — read the filing on EDGAR.

How asset managers voted at the CULLEN/FROST BANKERS INC. 2024-2025 meeting

Each item below shows how the 474 asset managers that disclosed a CULLEN/FROST BANKERS INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of CULLEN/FROST BANKERS INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. To provide nonbinding approval of executive compensation.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 9 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 50,909,698AGAINST: 1,782,930

CULLEN/FROST BANKERS INC.’s own tally for this item (“(2) To provide nonbinding approval of executive compensation.”): 50,909,698 for, 1,782,930 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 79% for, 3% against (82% of the company cast a for/against vote).

The 461 asset managers below cast 97% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the total votes cast at the meeting.

FOR 96%

FOR: 96.1%AGAINST: 3.1%ABSTAIN: 0.8%NOT VOTED: 0.0%

Largest asset managers voting on “To provide nonbinding approval of executive compensation.” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	8,022,324	0	For
State Street	5,310,921	0	For
Aristotle Capital Management, LLC	5,299,927	0	For
BlackRock	4,873,170	460	For
Fidelity	2,145,208	0	For
Neuberger Berman	1,882,236	0	For
KING LUTHER CAPITAL MANAGEMENT CORP	1,335,161	0	For
John Hancock	1,196,879	0	For
Charles Schwab	1,111,767	0	For
GEODE CAPITAL MANAGEMENT, LLC	1,100,780	0	For
Dimensional	976,219	0	For
Northern Trust	887,946	0	For
PRINCIPAL GLOBAL INVESTORS	799,589	0	For
Janus Henderson	770,268	0	For
JANUS INVESTMENT FUND	751,077	0	For
Advisors' Inner Circle Fund II	710,000	0	For
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.	569,662	0	For
Boston Trust Walden Co	524,422	0	For
Natixis	496,209	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Champlain Investment Partners, LLC	442,854	0	For
TCTC Holdings, LLC	425,722	0	For
BESSEMER INVESTMENT MANAGEMENT LLC	424,800	0	For
Bessemer Trust Co of California, N.A.	424,800	0	For
WESTWOOD HOLDINGS GROUP INC	424,707	0	For

Showing the 25 largest of 461 asset managers. See all 461 in the interactive database.

2. To ratify the selection of Ernst & Young LLP to act as independent auditors of Cullen/Frost for the fiscal year that began January 1, 2025;

AUDIT-RELATEDMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 57,692,473AGAINST: 1,173,607

CULLEN/FROST BANKERS INC.’s own tally for this item (“(3) To ratify the selection of Ernst & Young LLP to act as independent auditors of the Company for the fiscal year that began January 1, 2025.”): 57,692,473 for, 1,173,607 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 90% for, 2% against (92% of the company cast a for/against vote).

The 116 asset managers below cast 99.8% of the shares they voted on this item FOR (23,785,424 for, 32,799 against).

FOR 99.8%

FOR: 23,785,424 (99.8%)AGAINST: 32,799 (0.1%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To ratify the selection of Ernst & Young LLP to act as independent auditors of Cullen/Frost for the fiscal yea” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,951,559	1,025	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	272,693	0	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 116 asset managers. See all 116 in the interactive database.

3. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Anthony R. Chase

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 51,429,930AGAINST: 1,785,829

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Anthony R. Chase”): 51,429,930 for, 1,785,829 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 80% for, 3% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.7% of the shares they voted on this item FOR (23,750,372 for, 67,846 against).

FOR 99.6%

FOR: 23,750,372 (99.7%)AGAINST: 67,846 (0.3%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

4. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Charles W. Matthews

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 49,328,558AGAINST: 3,869,255

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Charles W. Matthews”): 49,328,558 for, 3,869,255 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 77% for, 6% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 98% of the shares they voted on this item FOR (23,442,170 for, 376,048 against).

FOR 98%

FOR: 23,442,170 (98.4%)AGAINST: 376,048 (1.6%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,250	1,613	For
BlackRock	3,476,172	0	For
State Street	1,951,559	1,025	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	0	128,729	Against
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

5. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Chris M. Avery

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 51,905,582AGAINST: 1,334,534

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Chris M. Avery”): 51,905,582 for, 1,334,534 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.6% of the shares they voted on this item FOR (23,742,258 for, 75,960 against).

FOR 99.6%

FOR: 23,742,258 (99.6%)AGAINST: 75,960 (0.3%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,951,721	863	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

6. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Crawford H. Edwards

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 52,996,968AGAINST: 233,369

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Crawford H. Edwards”): 52,996,968 for, 233,369 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 82% for, 0.4% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.9% of the shares they voted on this item FOR (23,818,218 for, 0 against).

FOR 99.9%

FOR: 23,818,218 (100.0%)AGAINST: 0 (0.0%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Vote
Vanguard	7,871,863	For
BlackRock	3,476,172	For
State Street	1,952,584	For
Fidelity	1,504,487	For
JANUS INVESTMENT FUND	751,077	For
Neuberger Berman	720,931	For
Dimensional	718,442	For
Advisors' Inner Circle Fund II	710,000	For
John Hancock	612,301	For
Charles Schwab	551,367	For
BOSTON TRUST WALDEN FUNDS	443,740	For
Equitable	336,915	For
Bridge Builder Trust	272,693	For
ProShares	221,744	For
Natixis	216,092	For
OLD WESTBURY FUNDS INC	212,400	For
MADISON FUNDS	193,321	For
HARBOR FUNDS	187,000	For
WisdomTree	170,688	For
Jackson National	153,095	For
Advisers Investment Trust	136,200	For
IMPAX FUNDS SERIES TRUST I	128,729	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	For
Principal	115,467	For
Invesco	105,727	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

7. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Cynthia J. Comparin

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 52,648,488AGAINST: 583,667

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Cynthia J. Comparin”): 52,648,488 for, 583,667 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 82% for, 1.0% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.4% of the shares they voted on this item FOR (23,687,481 for, 130,737 against).

FOR 99.4%

FOR: 23,687,481 (99.4%)AGAINST: 130,737 (0.5%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,871,863	0	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	272,693	0	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	0	128,729	Against
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

8. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: David J. Haemisegger

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 52,130,578AGAINST: 1,098,957

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: David J. Haemisegger”): 52,130,578 for, 1,098,957 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.8% of the shares they voted on this item FOR (23,775,071 for, 43,147 against).

FOR 99.7%

FOR: 23,775,071 (99.8%)AGAINST: 43,147 (0.2%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,871,863	0	For
BlackRock	3,476,172	0	For
State Street	1,952,422	162	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

9. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Hope Andrade

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 52,557,377AGAINST: 678,610

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Hope Andrade”): 52,557,377 for, 678,610 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 82% for, 1% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.1% of the shares they voted on this item FOR (23,605,817 for, 212,401 against).

FOR 99.0%

FOR: 23,605,817 (99.1%)AGAINST: 212,401 (0.9%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,871,863	0	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	272,693	0	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	0	212,400	Against
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

10. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Jack Willome

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 51,967,444AGAINST: 1,226,466

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Jack Willome”): 51,967,444 for, 1,226,466 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.8% of the shares they voted on this item FOR (23,772,804 for, 45,414 against).

FOR 99.7%

FOR: 23,772,804 (99.8%)AGAINST: 45,414 (0.2%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

11. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: John T. Engates

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 53,172,826AGAINST: 55,257

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: John T. Engates”): 53,172,826 for, 55,257 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 83% for, 0.1% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.9% of the shares they voted on this item FOR (23,818,218 for, 0 against).

FOR 99.9%

FOR: 23,818,218 (100.0%)AGAINST: 0 (0.0%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Vote
Vanguard	7,871,863	For
BlackRock	3,476,172	For
State Street	1,952,584	For
Fidelity	1,504,487	For
JANUS INVESTMENT FUND	751,077	For
Neuberger Berman	720,931	For
Dimensional	718,442	For
Advisors' Inner Circle Fund II	710,000	For
John Hancock	612,301	For
Charles Schwab	551,367	For
BOSTON TRUST WALDEN FUNDS	443,740	For
Equitable	336,915	For
Bridge Builder Trust	272,693	For
ProShares	221,744	For
Natixis	216,092	For
OLD WESTBURY FUNDS INC	212,400	For
MADISON FUNDS	193,321	For
HARBOR FUNDS	187,000	For
WisdomTree	170,688	For
Jackson National	153,095	For
Advisers Investment Trust	136,200	For
IMPAX FUNDS SERIES TRUST I	128,729	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	For
Principal	115,467	For
Invesco	105,727	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

12. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Joseph A. Pierce

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 51,918,599AGAINST: 1,294,306

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Joseph A. Pierce”): 51,918,599 for, 1,294,306 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99% of the shares they voted on this item FOR (23,560,403 for, 257,815 against).

FOR 99%

FOR: 23,560,403 (98.9%)AGAINST: 257,815 (1.1%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	0	212,400	Against
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

13. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Linda B. Rutherford

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 51,924,005AGAINST: 1,302,181

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Linda B. Rutherford”): 51,924,005 for, 1,302,181 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99% of the shares they voted on this item FOR (23,558,396 for, 259,822 against).

FOR 99%

FOR: 23,558,396 (98.9%)AGAINST: 259,822 (1.1%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	0	212,400	Against
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

14. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Phillip D. Green

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 51,832,816AGAINST: 1,418,544

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Phillip D. Green”): 51,832,816 for, 1,418,544 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.8% of the shares they voted on this item FOR (23,785,137 for, 33,081 against).

FOR 99.8%

FOR: 23,785,137 (99.8%)AGAINST: 33,081 (0.1%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,871,863	0	For
BlackRock	3,476,172	0	For
State Street	1,951,671	913	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	272,693	0	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

15. To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will expire at the 2026 Annual Meeting of Shareholders: Samuel G. Dawson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 51,950,843AGAINST: 1,277,414

CULLEN/FROST BANKERS INC.’s own tally for this item (“Elect Director: Samuel G. Dawson”): 51,950,843 for, 1,277,414 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 64,287,941 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 115 asset managers below cast 99.8% of the shares they voted on this item FOR (23,772,804 for, 45,414 against).

FOR 99.7%

FOR: 23,772,804 (99.8%)AGAINST: 45,414 (0.2%)ABSTAIN: 11,599 (0.0%)

Largest asset managers voting on “To elect 13 director nominees to serve on the Board of Directors of Cullen/Frost for a one-year term that will” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	7,870,251	1,612	For
BlackRock	3,476,172	0	For
State Street	1,952,584	0	For
Fidelity	1,504,487	0	For
JANUS INVESTMENT FUND	751,077	0	For
Neuberger Berman	720,931	0	For
Dimensional	718,442	0	For
Advisors' Inner Circle Fund II	710,000	0	For
John Hancock	612,301	0	For
Charles Schwab	551,367	0	For
BOSTON TRUST WALDEN FUNDS	443,740	0	For
Equitable	336,915	0	For
Bridge Builder Trust	234,343	38,350	For
ProShares	221,744	0	For
Natixis	216,092	0	For
OLD WESTBURY FUNDS INC	212,400	0	For
MADISON FUNDS	193,321	0	For
HARBOR FUNDS	187,000	0	For
WisdomTree	170,688	0	For
Jackson National	153,095	0	For
Advisers Investment Trust	136,200	0	For
IMPAX FUNDS SERIES TRUST I	128,729	0	For
TRUST FOR PROFESSIONAL MANAGERS	123,102	0	For
Principal	115,467	0	For
Invesco	105,727	0	For

Showing the 25 largest of 115 asset managers. See all 115 in the interactive database.

16. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

97% Majority: yes · of votes cast

FOR 97%

FOR: 50,909,698AGAINST: 1,782,930

The 13 asset managers below cast 98% of the shares they voted on this item FOR (1,302,046 for, 32,673 against).

FOR 98%

FOR: 1,302,046 (97.6%)AGAINST: 32,673 (2.4%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at CULLEN/FROST BANKERS INC., 2024-2025
Asset manager	For	Against	Vote
MONTRUSCO BOLTON INVESTMENTS INC.	651,095	0	For
JPMorgan	583,407	0	For
Empower	55,254	0	For
Desjardins Global Asset Management Inc.	0	32,673	Against
WASHINGTON CAPITAL MANAGEMENT, INC	4,900	0	For
HC CAPITAL TRUST	3,479	0	For
FAYEZ SAROFIM & CO	2,922	0	For
GuideStone	436	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	400	0	For
TD ASSET MANAGEMENT INC	140	0	For
Convergence Investment Partners, LLC	13	0	For
BOFA SECURITIES, INC.	0	0	--
BofA Securities Europe SA	0	0	--

Largest CULLEN/FROST BANKERS INC. shareholders voting in 2024-2025

Ranked by the number of CULLEN/FROST BANKERS INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 64,287,941 shares outstanding at the time of that meeting.

Top CULLEN/FROST BANKERS INC. shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	Vanguard	12.48%
2	State Street	8.26%
3	Aristotle Capital Management, LLC	8.24%
4	BlackRock	7.58%
5	Fidelity	3.34%
6	Neuberger Berman	2.93%
7	KING LUTHER CAPITAL MANAGEMENT CORP	2.08%
8	John Hancock	1.86%
9	Charles Schwab	1.73%
10	GEODE CAPITAL MANAGEMENT, LLC	1.71%

Reported CULLEN/FROST BANKERS INC. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

CULLEN/FROST BANKERS INC. beneficial owners on record for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	9.82%	13F
BlackRock	9.42%	13F
Aristotle Capital Management, LLC	7.41%	13G
Vanguard Portfolio Management	5.03%	13G
STATE STREET CORPORATION	4.82%	13G
Champlain Investment Partners, LLC	4.15%	13G
FMR (Fidelity)	1.98%	13F
Dimensional Fund Advisors	1.64%	13F
Northern Trust	1.64%	13F
JPMorgan Chase	1.22%	13F

Percentages above are of 64,287,941 shares outstanding, as reported by CULLEN/FROST BANKERS INC. on its Form 10-Q dated 2025-04-24 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from CULLEN/FROST BANKERS INC.’s 10-Q dated 2025-04-24. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At CULLEN/FROST BANKERS INC.'s shareholder meeting held 2025-04-30, in the 2024-2025 proxy season, 474 asset managers reported how they voted in their SEC Form N-PX filings, covering 6,713 separate fund positions. Their filings are grouped here into 16 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — To provide nonbinding approval of executive compensation. — FOR was 97% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: CULLEN/FROST BANKERS INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission (filing date not recorded for this item).

CULLEN/FROST BANKERS INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.