Commerce Bancshares (NASDAQ: CBSH) SVP reports tax-related stock dispositions

Rhea-AI Filing Summary

Commerce Bancshares Senior Vice President Kim L. Jakovich reported tax-related share dispositions under employee equity programs. On March 3, 322 shares of common stock were withheld at $51.61 per share, and on March 4, 176 shares were withheld at $52.25 per share to cover tax obligations. Following these transactions, Jakovich held 13,690 shares of common stock directly and 1,463 shares indirectly through a 401(k) account.

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

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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^*

JAKOVICH KIM 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)
	Senior Vice President

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

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	03/03/2026		F		322	D	$51.61	13,866	D
Common Stock	03/04/2026		F		176	D	$52.25	13,690	D
Common Stock								1,463	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:

	By: Paul A. Steiner For: Kim L. Jakovich	03/05/2026
	** 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 transactions did CBSH executive Kim L. Jakovich report?

Kim L. Jakovich reported tax-related share dispositions, with common stock withheld to satisfy tax obligations from equity awards. Two transactions used code F, indicating payment of tax liability by delivering Commerce Bancshares common shares back to the issuer.

How many Commerce Bancshares (CBSH) shares were disposed of for taxes?

A total of 498 Commerce Bancshares common shares were disposed of for tax withholding. This included 322 shares on March 3 and 176 shares on March 4, all coded F for tax-liability payment using company stock.

At what prices were CBSH shares withheld for Kim L. Jakovich’s taxes?

Shares were withheld at two prices: $51.61 per share on March 3 and $52.25 per share on March 4. These prices apply to the common stock used to pay the executive’s tax liabilities from equity compensation.

How many Commerce Bancshares shares does Kim L. Jakovich hold after these transactions?

After the reported transactions, Kim L. Jakovich held 13,690 Commerce Bancshares common shares directly. In addition, 1,463 common shares were held indirectly through a 401(k) plan, reflecting both direct and retirement-plan ownership positions.

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

Transaction code F indicates payment of an exercise price or tax liability by delivering securities. In this case, CBSH common shares were withheld from Kim L. Jakovich to cover tax obligations tied to equity compensation awards.

What type of indirect ownership does Kim L. Jakovich have in CBSH shares?

Indirect ownership is through a 401(k) plan, where 1,463 Commerce Bancshares common shares are held. The filing labels this as indirect ownership with nature of ownership noted as “401(k),” separate from directly held shares.