Commerce Bancshares (CBSH) chair awarded 150 shares in exec comp grant

Rhea-AI Filing Summary

Commerce Bancshares Executive Chairman David W. Kemper reported an acquisition of 150 shares of common stock on March 24, 2026. The shares were received as a grant under an executive compensation plan at $48.0931 per share and are held indirectly.

After this award, Kemper’s reported holdings include 26,306 shares under the executive compensation plan, 1,269,451 shares held directly, and additional indirect positions such as 42,866 shares in the CB Kemper Rev Trust and 284,092 shares in Tower Properties Co.

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
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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 MISSOURI 64106

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/24/2026		A		150	A	$48.0931	26,306	I	Exec Comp Plan
Common Stock								42,866	I	CB Kemper Rev Trust
Common Stock								1,269,451	D
Common Stock								42,487	I	EC Kemper Rev Trust
Common Stock								51,618	I	JW Kemper Rev Trust
Common Stock								284,092	I	Tower Properties Co
Common Stock								17,932	I	WL Kemper Irrev Trust
Common Stock								24,911	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	03/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CBSH Executive Chairman David W. Kemper report?

David W. Kemper reported receiving an award of 150 shares of Commerce Bancshares common stock. The grant was made on March 24, 2026 at $48.0931 per share and is held indirectly under an executive compensation plan.

How many Commerce Bancshares (CBSH) shares did Kemper hold directly after the Form 4?

Following the reported transactions, David W. Kemper held 1,269,451 shares of Commerce Bancshares common stock directly. This figure reflects his direct ownership position as of the March 24, 2026 reporting date in the Form 4 filing.

What is the nature of the 150-share award reported by CBSH Executive Chairman Kemper?

The 150-share award to David W. Kemper is classified as a grant or award acquisition. It was issued under an executive compensation plan, recorded as indirect ownership, at a reported price of $48.0931 per Commerce Bancshares common share.

What indirect holdings of CBSH stock are reported for David W. Kemper?

Indirect holdings for David W. Kemper include 26,306 shares under an executive compensation plan and stakes through entities such as CB Kemper Rev Trust with 42,866 shares and Tower Properties Co with 284,092 shares, among other reported trusts.

Does the CBSH Form 4 show any stock sales by David W. Kemper?

The Form 4 data shows an acquisition of 150 shares via a grant and no reported sales. Other line items list total share holdings in various direct and indirect accounts without indicating additional buy or sell transactions on March 24, 2026.

How significant is the 150-share CBSH grant to Kemper’s overall holdings?

The 150-share grant is small compared with David W. Kemper’s reported positions. After the transaction he holds 1,269,451 shares directly plus several hundred thousand additional shares indirectly through trusts and related entities disclosed in the Form 4.