Commerce Bancshares (CBSH) CEO Kemper sells 23,397 shares

Rhea-AI Filing Summary

Commerce Bancshares President and CEO John W. Kemper, also a director, reported selling 23,397 shares of common stock on 02/05/2026 at an average price of $53.9941 per share, with sale prices ranging from $53.70 to $54.51.

After this transaction, Kemper directly owned 206,528 common shares and indirectly held 284,092 common shares through Tower Properties Co, reflecting both his personal and affiliated ownership stakes in Commerce Bancshares.

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

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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^*

Kemper John 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)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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	02/05/2026		S		23,397	D	$53.9941(1)	206,528	D
Common Stock								284,092	I	Tower Properties Co

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. Sale prices ranged from $53.70 to $54.51.

	By: Paul A. Steiner For: John W. Kemper	02/09/2026
	** 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.
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FAQ

What insider transaction did CBSH President and CEO John W. Kemper report?

John W. Kemper reported selling 23,397 shares of Commerce Bancshares common stock. The sale occurred on February 5, 2026, and involved non-derivative common shares, as disclosed in the Form 4 insider trading report.

At what price did John W. Kemper sell CBSH shares on February 5, 2026?

Kemper’s reported average sale price was $53.9941 per CBSH share. A footnote explains that individual trade prices during the transaction ranged from $53.70 to $54.51, resulting in the disclosed volume-weighted average price.

How many Commerce Bancshares shares does John W. Kemper own after this Form 4?

Following the sale, Kemper directly owned 206,528 CBSH shares. In addition, he indirectly held 284,092 CBSH shares through Tower Properties Co, reflecting both direct and affiliated ownership positions reported in the filing.

What type of security did John W. Kemper trade in the CBSH Form 4 filing?

The transaction involved Commerce Bancshares common stock as a non-derivative security. No options, warrants, or other derivative securities were reported acquired or disposed of in Table II of this particular Form 4 filing.

What is the reporting person’s role at Commerce Bancshares (CBSH)?

John W. Kemper is reported as both President and CEO and a director. The Form 4 identifies him as an officer with the title “President and CEO,” as well as a member of the board of directors of Commerce Bancshares.

How is Tower Properties Co related to John W. Kemper’s CBSH holdings?

Tower Properties Co is listed as the holder of Kemper’s indirect CBSH shares. The Form 4 shows 284,092 common shares beneficially owned indirectly through Tower Properties Co, separate from his directly held Commerce Bancshares shares.