Commerce Bancshares (NASDAQ: CBSH) SVP reports tax-related share disposition

Rhea-AI Filing Summary

Commerce Bancshares Senior Vice President Richard W. Heise reported a tax-related share disposition. On March 3, 2026, he transferred 701 shares of Common Stock at $51.61 per share to cover tax obligations, leaving him with 21,033 directly owned shares.

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^*

HEISE RICHARD W

(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		701	D	$51.61	21,033	D

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: Richard W. Heise	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).
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FAQ

What insider transaction did CBSH executive Richard W. Heise report?

Richard W. Heise reported a tax-related share disposition. On March 3, 2026, he transferred 701 shares of Commerce Bancshares common stock at $51.61 per share to satisfy tax obligations associated with equity compensation.

How many CBSH shares did Richard W. Heise dispose of for taxes?

Heise disposed of 701 Commerce Bancshares common shares. The transaction was coded “F,” indicating payment of an exercise price or tax liability by delivering securities rather than an open-market sale of stock.

What price per share was used in Richard W. Heise’s CBSH tax transaction?

The tax-withholding disposition used a price of $51.61 per Commerce Bancshares share. This value is applied to shares delivered to cover tax or exercise obligations, not necessarily representing an open-market trade price.

How many Commerce Bancshares (CBSH) shares does Richard W. Heise own after the filing?

After the March 3, 2026 transaction, Heise directly owns 21,033 Commerce Bancshares common shares. This post-transaction holding reflects a relatively small tax-related disposition of 701 shares compared with his remaining ownership stake.

Was Richard W. Heise’s CBSH Form 4 transaction an open-market sale?

No, the filing shows a tax-withholding disposition coded “F,” not an open-market sale. Shares were delivered to cover an exercise price or tax liability, which is common for settling taxes on stock-based compensation.