Judith Wawroski - Jul 14, 2022 Form 4 Insider Report for INTERNATIONAL BANCSHARES CORP (IBOC)

Signature
/s/ JUDITH I WAWROSKI
Stock symbol
IBOC
Transactions as of
Jul 14, 2022
Transactions value $
$0
Form type
4
Date filed
4/10/2023, 04:17 PM
Previous filing
Feb 22, 2022
Next filing
Aug 15, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IBOC STOCK APPRECIATION RIGHTS Award $0 +4K $0.00 4K Jul 14, 2022 COMMON STOCK 4K $39.33 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These stock appreciation rights (these "SARs") were granted to the reporting person pursuant to the 2022 International Bancshares Corporation Stock Appreciation Rights Plan and a Stock Appreciation Rights Award Agreement between International Bancshares Corporation (the "Company") and the reporting person. These SARs represent the right to receive, upon exercise, a cash amount equal to the number of shares of the Company's common stock, par value $1.00 per share (the "Common Stock"), underlying the SARs being exercised multiplied by the excess of the fair market value of one share of Common Stock on (i) the date the SARs are exercised, and (ii) July 14, 2022, the date the SARs were granted (the "Grant Date").
F2 These SARs are subject to a seven-year vesting schedule and become exercisable in six percentage installments, vesting 5% on the second anniversary of the Grant Date, and 10%, 15%, 20%, 25%, and 25% on each respective anniversary of the Grant Date thereafter.