Commerce Bancshares (CBSH) chair sells 2,842 shares at $52.585

Rhea-AI Filing Summary

Commerce Bancshares Inc. Executive Chairman and director David W. Kemper reported selling 2,842 shares of common stock on January 30, 2026 at a price of $52.585 per share. After this sale, he directly holds 1,264,786 common shares.

In addition to these direct holdings, he reports indirect ownership of common stock through several trusts and entities, including 42,866 shares via the CB Kemper Rev Trust, 42,487 shares via the EC Kemper Rev Trust, 26,156 shares via an Executive Compensation Plan, 51,618 shares via the JW Kemper Rev Trust, 284,092 shares via Tower Properties Co, 17,932 shares via the WL Kemper Irrevocable Trust, and 24,911 shares via the WL Kemper Rev Trust.

Insider Trade Summary

Net Seller: 2,842 shares ($149,447)

Net Sell 8 txns

Insider KEMPER DAVID W

Role Executive Chairman

Sold 2,842 shs ($149K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,842	$52.585	$149K
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 — 1,264,786 shares (Direct); Common Stock — 42,866 shares (Indirect, CB Kemper Rev Trust)

Footnotes (1)

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 DAVID 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)
	Executive Chairman

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		S		2,842	D	$52.585	1,264,786	D
Common Stock								42,866	I	CB Kemper Rev Trust
Common Stock								42,487	I	EC Kemper Rev Trust
Common Stock								26,156	I	Exec Comp Plan
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	02/03/2026
	** 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 Chairman David W. Kemper report?

David W. Kemper reported selling 2,842 shares of Commerce Bancshares common stock. The sale occurred on January 30, 2026 at a price of $52.585 per share, as disclosed in his Form 4 filing.

How many CBSH shares does David W. Kemper hold directly after this Form 4?

Following the reported sale, David W. Kemper directly holds 1,264,786 shares of Commerce Bancshares common stock. This figure reflects his direct ownership position after disposing of 2,842 shares at $52.585 per share.

What indirect Commerce Bancshares (CBSH) holdings are reported for David W. Kemper?

He reports indirect ownership of common stock through several entities, including 42,866 shares in the CB Kemper Rev Trust and 42,487 shares in the EC Kemper Rev Trust, along with additional shares in compensation plans, trusts, and Tower Properties Co.

Which trusts associated with David W. Kemper hold CBSH shares?

Reported indirect holders include the CB Kemper Rev Trust, EC Kemper Rev Trust, JW Kemper Rev Trust, WL Kemper Irrev Trust, and WL Kemper Rev Trust. Each entity holds specified amounts of Commerce Bancshares common stock on an indirect basis.

At what price were David W. Kemper’s CBSH shares sold in this transaction?

The reported sale was executed at an average price of $52.585 per share. This price applies to the 2,842 Commerce Bancshares common stock shares disposed of on January 30, 2026, according to the Form 4 disclosure.

What executive role does David W. Kemper hold at Commerce Bancshares (CBSH)?

David W. Kemper is identified as both a director and an officer, serving as Executive Chairman of Commerce Bancshares Inc. This role is indicated in the relationship section of the Form 4 report.