[Form 4] Commerce Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

Todd R. Schnuck, a director of Commerce Bancshares, reported a purchase of 666 shares of Commerce Bancshares Inc. (CBSH) on 08/29/2025 at a price of $61.94 per share, bringing his total beneficial ownership to 30,222 shares. The Form 4 was signed on 09/03/2025 and was filed as an individual report by one reporting person.

Positive

• Insider purchase reported: Director Todd R. Schnuck acquired 666 shares at $61.94 on 08/29/2025.
• Increased ownership disclosed: Beneficial ownership rose to 30,222 shares, improving transparency under Section 16.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchased a small block of shares, increasing holdings to 30,222 shares; transaction appears routine.

The 666-share acquisition at $61.94 is a straightforward, non-derivative purchase by a company director. The size of the purchase relative to total reported holdings is small, indicating a limited direct impact on ownership percentage or company control. This disclosure meets Section 16 reporting requirements and provides transparency on insider activity.

Corporate Governance Expert

TL;DR: Director reported a direct purchase; filing is standard and compliant with Section 16 reporting rules.

The Form 4 shows clear reporting of a purchase transaction and updated beneficial ownership. There are no amendments noted and no derivative transactions disclosed. The filing is routine, reflecting ongoing insider trading disclosures without material governance concerns evident from the document alone.

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^*

Schnuck Todd R

(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		666	A	$61.94	30,222	D

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: Todd R. Schnuck	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.

FAQ

What transaction did Todd R. Schnuck report on Form 4 for CBSH?

He reported a purchase of 666 shares of Commerce Bancshares Inc. on 08/29/2025 at a price of $61.94 per share.

How many CBSH shares does Todd R. Schnuck beneficially own after the reported trade?

The Form 4 states he beneficially owns 30,222 shares following the transaction.

When was the Form 4 for this CBSH transaction signed?

The signature on the Form 4 is dated 09/03/2025.

Was this Form 4 filed by multiple reporting persons for CBSH?

No. The form indicates it was filed by one reporting person (individual filing).

Did the Form 4 disclose any derivative transactions for CBSH?

No. Table II for derivative securities contains no entries in this filing.