Commerce Bancshares Executive Shows Confidence with Latest Stock Purchase

Rhea-AI Filing Summary

Commerce Bancshares (CBSH) Executive Chairman David W. Kemper reported a new acquisition of company shares on June 24, 2025. The insider purchased 109 shares at $62.31 per share through the Executive Compensation Plan.

Following this transaction, Kemper's holdings include:

• 1,208,311 shares held directly
• 465,502 shares held indirectly through various trusts and entities, including:
• 270,564 shares through Tower Properties Co
• 40,825 shares in CB Kemper Rev Trust
• 40,464 shares in EC Kemper Rev Trust
• 49,160 shares in JW Kemper Rev Trust

The transaction was executed under Form 4 filing requirements for insider trading activity. Kemper serves as both Director and Executive Chairman of Commerce Bancshares.

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 DAVID W

(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
X	Officer (give title below)		Other (specify below)
	Executive Chairman

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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	06/24/2025		A		109	A	$62.3136	24,676	I	Exec Comp Plan
Common Stock								40,825	I	CB Kemper Rev Trust
Common Stock								1,208,311	D
Common Stock								40,464	I	EC Kemper Rev Trust
Common Stock								49,160	I	JW Kemper Rev Trust
Common Stock								270,564	I	Tower Properties Co
Common Stock								17,079	I	WL Kemper Irrev Trust
Common Stock								23,725	I	WL Kemper Rev Trust

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: David W. Kemper	06/26/2025
	** 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

How many CBSH shares did David Kemper acquire on June 24, 2025?

According to the Form 4 filing, David Kemper acquired 109 shares of CBSH common stock on June 24, 2025, at a price of $62.3136 per share through the Executive Compensation Plan.

What is David Kemper's total direct ownership of CBSH stock?

David Kemper directly owns 1,208,311 shares of Commerce Bancshares (CBSH) stock, as reported in the Form 4 filing under Table I - Non-Derivative Securities.

What positions does David Kemper hold at Commerce Bancshares (CBSH)?

According to the Form 4 filing, David W. Kemper serves in dual roles at Commerce Bancshares - he is both a Director and Executive Chairman of the company.

What is David Kemper's total indirect ownership of CBSH stock through various trusts and entities?

David Kemper indirectly owns a total of 465,592 shares through various trusts and entities, including: Tower Properties Co (270,564 shares), CB Kemper Rev Trust (40,825 shares), EC Kemper Rev Trust (40,464 shares), JW Kemper Rev Trust (49,160 shares), WL Kemper Irrev Trust (17,079 shares), WL Kemper Rev Trust (23,725 shares), and Exec Comp Plan (24,676 shares).

When was the Form 4 for CBSH insider trading filed?

The Form 4 was filed on June 28, 2025, reporting a transaction that occurred on June 24, 2025. The form was signed by Paul A. Steiner on behalf of David W. Kemper on June 26, 2025.