Commerce Bancshares (CBSH) EVP Orf updates stock and 401(k) holdings

Rhea-AI Filing Summary

Commerce Bancshares Inc. executive David L. Orf reported a disposition of company stock and updated his holdings. On 02/02/2026, he disposed of 964 shares of Common Stock in a transaction coded "F" at a price of $53.23 per share, leaving 22,319 shares held directly. He also reported 24,001 shares of Common Stock held indirectly through a 401(k) plan. A footnote explains that all reported stock holding balances were adjusted to reflect a 5% stock dividend with a record date of 12/2/2025 and payable on 12/16/2025.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Orf David L

Role Exec. Vice President & CCO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	964	$53.23	$51K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 22,319 shares (Direct); Common Stock — 24,001 shares (Indirect, 401(K))

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^*

Orf David L

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec. Vice President & CCO

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		964	D	$53.23	22,319(1)	D
Common Stock								24,001	I	401(K)

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.

	/s/ Paul A. Steiner for David L. Orf	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 executive David L. Orf report?

David L. Orf reported a disposition of 964 shares of Commerce Bancshares Common Stock on 02/02/2026. The transaction was coded "F" at a price of $53.23 per share, and it updated his directly held and indirectly held share balances.

How many Commerce Bancshares (CBSH) shares does David L. Orf hold after this Form 4?

After the reported transaction, David L. Orf beneficially owns 22,319 shares of Commerce Bancshares Common Stock directly. He also reports 24,001 shares held indirectly through a 401(k) plan, reflecting his combined direct and retirement-plan-related holdings disclosed in the filing.

What does the transaction code "F" mean in the CBSH Form 4 filing?

The filing lists the 02/02/2026 Common Stock transaction with code "F," indicating a specific type of disposition under SEC rules. While the filing does not elaborate further, this code distinguishes the transaction from open-market buys or sells and is part of standard Form 4 reporting.

How were Commerce Bancshares (CBSH) share balances adjusted in this Form 4?

A footnote states that all stock holding balances were adjusted to include a 5% stock dividend. The dividend used a record date of 12/2/2025 and a payable date of 12/16/2025, which increased the reported share counts without reflecting separate purchase transactions.

What indirect holdings does David L. Orf report in Commerce Bancshares (CBSH)?

David L. Orf reports 24,001 shares of Commerce Bancshares Common Stock as indirectly owned through a 401(k) plan. This indirect position is separate from his 22,319 directly held shares and reflects retirement-plan-related ownership disclosed in the Form 4.

What role does David L. Orf hold at Commerce Bancshares (CBSH)?

David L. Orf is identified as an officer of Commerce Bancshares, serving as Executive Vice President and Chief Credit Officer. His status as an officer requires reporting changes in his beneficial ownership of company stock on Form 4 under SEC rules.