[Form 4] Commercial Bancgroup, Inc. Insider Trading Activity

Commercial Bancgroup, Inc. director and 10% owner reports equity grant.

Rhea-AI Filing Summary

Commercial Bancgroup, Inc. director and 10% owner reports equity grant. A reporting person of Commercial Bancgroup, Inc. (CBK), who serves as a director and 10% owner, reported receiving 469 restricted stock units (RSUs) of common stock on 11/24/2025 at a price of $0. Each RSU represents a contingent right to receive one share of common stock, and the RSUs vest 100% on the date of the issuer's 2026 annual meeting of shareholders.

Following this equity award, the reporting person beneficially owns 95,474.5 shares of common stock directly, including 95,005.5 shares jointly owned with the reporting person's spouse, and 1,167,820.5 shares indirectly through Unified Shares LLC, where the reporting person is a member and manager and disclaims beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary

Grant/Award: 469 shares

Grant/Award 2 txns

Insider Spurlock Martha S.

Role Director, 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	469	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 95,474.5 shares (Direct); Common Stock — 1,167,820.5 shares (Indirect, By Unified Shares LLC)

Footnotes (3)

1. F1. Represents an award of restricted stock units (collectively, the "RSUs" and each, an "RSU") granted pursuant to the Commercial Bancgroup, Inc. 2025 Omnibus Incentive Plan. Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest 100% on the date of the issuer's 2026 annual meeting of shareholders.
2. F2. 95,005.5 of these shares are jointly owned with the reporting person's spouse.
3. F3. The reporting person is a member and manager of Unified Shares LLC ("Unified Shares"). The reporting person disclaims beneficial ownership of the shares of the issuer's common stock held by Unified Shares except to the extent of her pecuniary interest therein, if any.

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Accepted by SEC EDGAR 11/25/2025 - 09:06 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Spurlock Martha S.

(Last) (First) (Middle)

C/O COMMERCIAL BANCGROUP, INC.

6710 CUMBERLAND GAP PARKWAY

(Street)

HARROGATE TN 37752

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Commercial Bancgroup, Inc. [ CBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/24/2025		A		469(1)	A	$0	95,474.5(2)	D
Common Stock								1,167,820.5	I	By Unified Shares LLC(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents an award of restricted stock units (collectively, the "RSUs" and each, an "RSU") granted pursuant to the Commercial Bancgroup, Inc. 2025 Omnibus Incentive Plan. Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest 100% on the date of the issuer's 2026 annual meeting of shareholders.

2. 95,005.5 of these shares are jointly owned with the reporting person's spouse.

3. The reporting person is a member and manager of Unified Shares LLC ("Unified Shares"). The reporting person disclaims beneficial ownership of the shares of the issuer's common stock held by Unified Shares except to the extent of her pecuniary interest therein, if any.

	/s/ Philip J. Metheny, attorney-in-fact	11/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.