Commerce Bancshares (CBSH) director reports 545-share purchase at $61.94

Rhea-AI Filing Summary

June McAllister Fowler, a director of Commerce Bancshares Inc. (CBSH), purchased common stock on 08/29/2025. She acquired 545 shares at a price of $61.94 per share, and following the transaction she beneficially owns 4,255 shares directly. The filing is a routine Section 16 report disclosing an insider purchase by a company director; no derivative transactions or additional securities classes are reported.

Insights

Securities Analyst

TL;DR: A small director purchase was reported; transaction is routine and likely immaterial to valuation.

The reported acquisition of 545 shares at $61.94 increases the director's direct stake to 4,255 shares. From a market-impact perspective, the size of the purchase is modest and does not indicate a material change in insider ownership or control. The disclosure meets Section 16 requirements and provides transparency on insider activity but contains no additional context such as related-party arrangements or option exercises.

Corporate Governance Expert

TL;DR: Insider purchase by a board member disclosed; governance-wise this is routine reporting with no material governance change.

The form shows a direct purchase by a director, which is standard for maintaining transparency under securities law. There are no indications of coordinated group filings, no derivative holdings reported, and no change in beneficial control. This disclosure fulfills compliance expectations but does not raise governance concerns given the transaction's limited size.

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^*

FOWLER JUNE MCALLISTER

(Last) (First) (Middle)

1000 WALNUT ST.

(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		545	A	$61.94	4,255	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: June McAllister Fowler	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 insider transaction did Commerce Bancshares (CBSH) report?

The filing reports that director June McAllister Fowler purchased 545 shares of common stock on 08/29/2025 at $61.94 per share.

How many shares does the reporting person own after the transaction?

After the reported purchase the reporting person beneficially owns 4,255 shares directly.

Was the reported transaction a purchase, sale, or derivative exercise?

The transaction code is A, indicating an acquisition (purchase) of shares; no derivative securities were reported.

What is the reporting person's relationship to CBSH?

The form identifies the reporting person as a Director of Commerce Bancshares Inc.

Does the Form 4 show any joint or group filing?

No; the form indicates it was filed by one reporting person (a single filer).