CBSH Form 4: Director Jonathan Kemper Buys 350 Shares at $61.94

Commerce Bancshares director Jonathan M. Kemper reported an open-market acquisition of 350 shares of Commerce Bancshares Inc. (CBSH) on 08/29/2025 at a price of $61.94 per share.

Rhea-AI Filing Summary

Commerce Bancshares director Jonathan M. Kemper reported an open-market acquisition of 350 shares of Commerce Bancshares Inc. (CBSH) on 08/29/2025 at a price of $61.94 per share. After the purchase, the reporting person beneficially owned 1,080,216 shares in total, including several indirect holdings such as 401(k) and various irrevocable trusts listed on the form.

Positive

• Director purchase disclosed: Jonathan M. Kemper acquired 350 shares at $61.94 on 08/29/2025 (reported on Form 4)
• Comprehensive ownership detail: Form lists total beneficial ownership of 1,080,216 shares and specifies multiple indirect holdings (401(k), trusts, exec comp plan)

Negative

• None.

Insights

Financial Analyst

TL;DR: A small open-market purchase by a director increased total beneficial ownership to 1,080,216 shares.

The Form 4 shows a straightforward acquisition of 350 common shares at $61.94 on 08/29/2025 by Jonathan M. Kemper, a director. The filing lists multiple indirect holdings (401(k), irrevocable trusts, executive comp plan) that comprise the total 1,080,216 shares. The trade is routine disclosure of insider activity and does not, by itself, indicate a material corporate development.

Corporate Governance Expert

TL;DR: Insider purchase disclosure is a routine governance transparency action; holdings and trusts are clearly itemized.

The filing adequately identifies the reporting person, relationship to the issuer (director), transaction date, transaction code (A for acquisition), number of shares acquired, price, and post-transaction beneficial ownership. Indirect holdings are enumerated, improving transparency about control and family/trust interests. No amendments or additional explanatory text accompany the filing.

Insider Trade Summary

Grant/Award: 350 shares

Grant/Award 8 txns

Insider KEMPER JONATHAN M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	350	$61.94	$22K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,080,216 shares (Direct); Common Stock — 38,730 shares (Indirect, 401(k)); Common Stock — 12,248 shares (Indirect, David BR Kemper Irrev Trust); Common Stock — 166,306 shares (Indirect, Exec Comp Plan); Common Stock — 47,818 shares (Indirect, Irrev Trust For Self); Common Stock — 8,418 shares (Indirect, Nicolas Kemper Irrev Trust); Common Stock — 40,271 shares (Indirect, Nicolas Kemper Trust); Common Stock — 270,564 shares (Indirect, Tower Properties Co)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Jonathan M. Kemper (CBSH) report on Form 4?

He reported an acquisition of 350 shares of Commerce Bancshares Inc. on 08/29/2025 at a price of $61.94 per share.

How many shares does Jonathan M. Kemper beneficially own after the reported transaction?

The Form 4 reports total beneficial ownership of 1,080,216 shares following the transaction.

What is Jonathan M. Kemper's relationship to Commerce Bancshares (CBSH)?

The filing identifies Jonathan M. Kemper as a Director of Commerce Bancshares Inc.

Does the Form 4 list indirect holdings for Jonathan M. Kemper?

Yes. Indirect holdings listed include 401(k), several irrevocable trusts, an executive compensation plan, and other trust vehicles with specified share amounts.

What transaction code is used on the Form 4 and what does it indicate?

The transaction code reported is A, which indicates an acquisition of securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/03/2025 - 05:13 PM 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^*

KEMPER JONATHAN M

(Last) (First) (Middle)

1000 WALNUT ST., 7TH FLOOR

(Street)

KANSAS CITY MO 64106

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COMMERCE BANCSHARES INC /MO/ [ CBSH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		A		350	A	$61.94	1,080,216	D
Common Stock								38,730	I	401(k)
Common Stock								12,248	I	David BR Kemper Irrev Trust
Common Stock								166,306	I	Exec Comp Plan
Common Stock								47,818	I	Irrev Trust For Self
Common Stock								8,418	I	Nicolas Kemper Irrev Trust
Common Stock								40,271	I	Nicolas Kemper Trust
Common Stock								270,564	I	Tower Properties Co

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:

	By: Paul A. Steiner For: Jonathan M. Kemper	09/03/2025
	** 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.