Commerce Bancshares (NASDAQ: CBSH) chair reports 131-share stock award, large holdings

Rhea-AI Filing Summary

KEMPER DAVID W reported acquisition or exercise transactions in this Form 4 filing.

Commerce Bancshares Executive Chairman David W. Kemper reported updated holdings of the company’s common stock. The filing shows an indirect grant of 131 shares under an executive compensation plan at a reference price of $55.2899 per share.

After this award, Kemper holds 1,269,451 shares directly and additional indirect positions held through various trusts and entities, each listed with its own share balance as of the transaction date.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider KEMPER DAVID W

Role Executive Chairman

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	131	$55.2899	$7K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 26,437 shares (Indirect, Exec Comp Plan); Common Stock — 1,269,451 shares (Direct, null)

Footnotes (1)

Key Figures

Stock grant: 131 shares Grant price: $55.2899 per share Direct holdings: 1,269,451 shares +3 more

6 metrics

Stock grant 131 shares Executive compensation plan award of common stock

Grant price $55.2899 per share Reference price for 131-share stock award

Direct holdings 1,269,451 shares Common stock held directly after transactions

Exec Comp Plan holdings 26,437 shares Indirect holdings under Exec Comp Plan after grant

Tower Properties Co holdings 284,092 shares Indirect common stock position via Tower Properties Co

WL Kemper Rev Trust holdings 24,911 shares Indirect common stock position via WL Kemper Rev Trust

Key Terms

Executive Chairman, Common Stock, grant/award acquisition, indirect ownership, +1 more

5 terms

Executive Chairman financial

"David W. Kemper serves as Executive Chairman of Commerce Bancshares."

An executive chairman is the board leader who also takes an active role in running the company, combining oversight of the board with hands-on involvement in strategy and major decisions. For investors, this matters because it concentrates influence in one person—like a team captain who both sets the game plan and plays on the field—so their judgment can speed decisions but also increases governance and succession risk that can affect stock value.

Common Stock financial

"All reported positions relate to Commerce Bancshares Common Stock."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

grant/award acquisition financial

"The 131-share transaction is classified as a grant/award acquisition."

indirect ownership financial

"Several entries show indirect ownership through trusts and related entities."

Exec Comp Plan financial

"The 131-share award is held indirectly under an Exec Comp Plan."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 04:11 PM Accepted by SEC EDGAR 06/25/2026 - 04:11 PM Learn about SEC filing dates

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 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)
06/23/2026

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	06/23/2026		A		131	A	$55.2899	26,437	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: Steven A. Brandjord For: David W. Kemper	06/25/2026
	** 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 an indirect grant of 131 shares of Commerce Bancshares common stock through an executive compensation plan at $55.2899 per share, reflecting routine equity-based compensation rather than an open-market purchase or sale.

Was the CBSH Form 4 filing a buy or sell of shares?

The Form 4 does not show any open-market buys or sells. It records a grant of 131 common shares as compensation and several updated holding entries, so the activity is administrative rather than a discretionary market trade.

How many Commerce Bancshares shares does David W. Kemper hold directly?

Following the reported transactions, David W. Kemper directly holds 1,269,451 shares of Commerce Bancshares common stock. This figure is separate from additional indirect holdings reported through various trusts and entities associated with his name.

What is the role of trusts in David W. Kemper’s CBSH holdings?

Several entries list indirect ownership through trusts such as the WL Kemper Rev Trust and others. Each trust’s Commerce Bancshares share balance is reported separately, indicating portions of his economic interest are held via estate and trust structures.

What price per share is associated with the CBSH compensation grant?

The 131-share executive compensation grant is reported at $55.2899 per share. This figure serves as the transaction’s reference price in the Form 4 and helps quantify the approximate dollar value of the awarded stock.

Does the CBSH Form 4 indicate any derivative securities for David W. Kemper?

The provided data show an empty derivativeSummary, indicating no listed options, warrants, or other derivative positions in this specific Form 4. Only holdings and the 131-share non-derivative stock grant are detailed in the record.