Commerce Bancshares (CBSH) CEO Kemper discloses 10,638-share disposition

Rhea-AI Filing Summary

Commerce Bancshares President and CEO John W. Kemper, who is also a director, reported a disposition of common stock on 02/02/2026. A total of 10,638 shares of common stock were disposed of in a transaction coded “F” at $53.23 per share, leaving 211,887 common shares held directly.

In addition to his direct holdings, the filing lists 284,092 common shares held indirectly through Tower Properties Co. A footnote explains that all stock holding balances in the report were adjusted for a 5% stock dividend with a record date of 12/2/2025 and payable on 12/16/2025, so the reported balances reflect this dividend adjustment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Kemper John W

Role President and CEO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	10,638	$53.23	$566K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 211,887 shares (Direct); Common Stock — 284,092 shares (Indirect, Tower Properties Co)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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 John 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)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

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	02/02/2026		F		10,638	D	$53.23	211,887(1)	D
Common Stock								284,092	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:

1. All stock holding balances adjusted to include a 5% stock dividend. Record date of 12/2/2025, payable 12/16/2025.

	By: Paul A. Steiner For: John W. Kemper	02/04/2026
	** 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 CBSH President and CEO John W. Kemper report?

John W. Kemper reported disposing of 10,638 shares of Commerce Bancshares common stock on 02/02/2026. The transaction, coded “F,” was executed at $53.23 per share and reduced his directly held shares while keeping a substantial remaining position.

How many Commerce Bancshares (CBSH) shares does John W. Kemper hold after this Form 4?

After the reported transaction, John W. Kemper directly holds 211,887 shares of Commerce Bancshares common stock. The Form 4 also shows 284,092 additional shares held indirectly through Tower Properties Co, reflecting his combined direct and indirect beneficial ownership positions.

What does the indirect ownership through Tower Properties Co mean for CBSH insider holdings?

The Form 4 shows 284,092 Commerce Bancshares common shares held indirectly through Tower Properties Co. This indicates an additional block of shares beneficially owned via that entity, separate from Kemper’s 211,887 directly held shares, and is disclosed to clarify the full ownership structure.

What is the significance of the 5% stock dividend mentioned in the CBSH Form 4?

The filing notes that all stock holding balances were adjusted for a 5% stock dividend, with a record date of 12/2/2025 and payable 12/16/2025. This means the reported share counts already include the additional shares issued from that dividend adjustment.

What role does John W. Kemper hold at Commerce Bancshares (CBSH) according to this filing?

John W. Kemper is identified as both a director and an officer of Commerce Bancshares, serving as President and CEO. His dual role and insider status explain why his transactions in the company’s common stock must be reported on Form 4 under Section 16 rules.

On what date did the reported CBSH insider transaction by John W. Kemper occur?

The reported insider transaction occurred on 02/02/2026. That date is listed as the transaction date for the 10,638 shares of Commerce Bancshares common stock disposed of in a transaction coded “F,” with the updated holdings shown immediately after this event.