PIPER SANDLER COMPANIES

Ticker: PIPR CUSIP: 724078100 Class: EQTY

CULLEN/FROST BANKERS, INC.'s Holding History (CIK: 0000039263)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 6 Value ($000) $2 Avg Close $337.82 Range $308.86 - $372.75

Q3 2025

Shares 6 Value ($000) $2 Avg Close $326.18 Range $274.99 - $374.77

Q2 2025

Shares 8 Value ($000) $2 Avg Close $249.18 Range $202.91 - $286.41

Q1 2025

Shares 36 Value ($000) $9 Avg Close $286.30 Range $238.37 - $333.09

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	6	$2	$337.82	$308.86 - $372.75
Q3 2025	6	$2	$326.18	$274.99 - $374.77
Q2 2025	8	$2	$249.18	$202.91 - $286.41
Q1 2025	36	$9	$286.30	$238.37 - $333.09