Commerce Bancshares chairman acquires 128 shares

The reported post-transaction position is separate from additional direct, trust, and entity holding entries.

Rhea-AI Filing Summary

Commerce Bancshares Inc (CBSH) Executive Chairman and director David W. Kemper reported an indirect acquisition of 128 common shares on September 22, 2026, through an “Exec Comp Plan,” at $56.6408 per share. The transaction row reports 26,565 shares following the acquisition. A separate holding entry attributes 1,264,784 shares to CBSH & TP Stock Management, LLC, of which Kemper is a manager.

Insider Trade Summary

Grant/Award: 128 shares

Grant/Award 9 txns

Insider KEMPER DAVID W

Role Executive Chairman

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	128	$56.6408	$7K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F1	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 26,565 shares (Indirect, Exec Comp Plan); Common Stock — 42,866 shares (Indirect, CB Kemper Rev Trust); Common Stock — 4,667 shares (Direct); Common Stock — 42,487 shares (Indirect, EC Kemper Rev Trust); Common Stock — 51,618 shares (Indirect, JW Kemper Rev Trust); Common Stock — 1,264,784 shares (Indirect, Stock Management, LLC); Common Stock — 284,092 shares (Indirect, Tower Properties Co); Common Stock — 17,932 shares (Indirect, WL Kemper Irrev Trust); Common Stock — 24,911 shares (Indirect, WL Kemper Rev Trust)

Footnotes (1)

1. F1. By CBSH & TP Stock Management, LLC, of which the reporting person is a Manager.

Key Figures

Shares acquired: 128 common shares Price per share: $56.6408 per share Shares following transaction: 26,565 shares +5 more

8 metrics

Shares acquired 128 common shares Acquisition on September 22, 2026 through the Exec Comp Plan

Price per share $56.6408 per share Reported for the September 22, 2026 acquisition

Shares following transaction 26,565 shares Reported following the acquisition on September 22, 2026

Direct common stock holding 4,667 shares Reported on September 22, 2026

CBSH & TP Stock Management, LLC holding 1,264,784 shares Reported on September 22, 2026; Kemper is a manager of the LLC

Tower Properties Co holding 284,092 shares Reported on September 22, 2026

CB Kemper Rev Trust holding 42,866 shares Reported on September 22, 2026

EC Kemper Rev Trust holding 42,487 shares Reported on September 22, 2026

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CBSH shares did David W. Kemper acquire?

David W. Kemper, Commerce Bancshares' Executive Chairman and director, reported an acquisition of 128 common shares on September 22, 2026, at $56.6408 per share through the Exec Comp Plan.

What other trust and entity holdings were reported for David W. Kemper?

Separate holdings dated September 22, 2026, included 42,866 shares in CB Kemper Rev Trust, 42,487 in EC Kemper Rev Trust, 51,618 in JW Kemper Rev Trust, 17,932 in WL Kemper Irrev Trust, 24,911 in WL Kemper Rev Trust, and 284,092 in Tower Properties Co.

How many CBSH shares did David W. Kemper hold directly after the transaction?

The direct holding entry reported 4,667 common shares on September 22, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/24/2026 - 05:35 PM Accepted by SEC EDGAR 09/24/2026 - 05:34 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)
09/22/2026

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	09/22/2026		A		128	A	$56.6408	26,565	I	Exec Comp Plan
Common Stock								42,866	I	CB Kemper Rev Trust
Common Stock								4,667	D
Common Stock								42,487	I	EC Kemper Rev Trust
Common Stock								51,618	I	JW Kemper Rev Trust
Common Stock								1,264,784	I	Stock Management, LLC(1)
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:

1. By CBSH & TP Stock Management, LLC, of which the reporting person is a Manager.

	By: Steven A. Brandjord For: David W. Kemper	09/24/2026
	** 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)