Form 4: CEO Kemper Sells CBSH Shares for Tax Obligations

Commerce Bancshares CEO John W. Kemper disposed of 10,638 shares of common stock to cover tax withholding obligations at a price of $53.23 per share.

Summary

• John W. Kemper, President and CEO of Commerce Bancshares Inc. /MO/ (CBSH), reported a disposition of common stock.
• 10,638 shares of Common Stock were disposed of on February 2, 2026.
• The transaction was coded 'F', indicating a disposition to the issuer to satisfy tax withholding obligations.
• The price per share for the disposition was $53.23.
• Following this transaction, Kemper directly owns 211,887 shares and indirectly owns 284,092 shares through Tower Properties Co.
• All stock holding balances were adjusted to include a 5% stock dividend with a record date of December 2, 2025, and payable on December 16, 2025.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing. The share disposition is routine for tax purposes, while the 5% stock dividend is a positive signal for shareholder returns.

Positives

• A 5% stock dividend was applied to all stock holding balances, indicating a return to shareholders.

Negatives

• John W. Kemper disposed of 10,638 shares of common stock, reducing his direct ownership.

Future Outlook

N/A

Industry Context

StockSavvy.ai notes that insider transactions, particularly dispositions for tax purposes, are common and generally not indicative of management's view on future company performance. The 5% stock dividend reflects a common strategy for returning value to shareholders in the banking sector.

Related Party Transactions

• John W. Kemper holds 284,092 shares indirectly through Tower Properties Co.

Stakeholder Impact

• Shareholders: Benefit from the 5% stock dividend. The disposition is a minor, routine event.

Key Dates

Recommendation

The filing details a routine insider transaction for tax purposes and a previously announced stock dividend. These events do not fundamentally alter the investment thesis for Commerce Bancshares, suggesting a "hold" recommendation for existing investors.

Keywords

Commerce Bancshares, CBSH, John W. Kemper, Insider Transaction, Stock Sale, Form 4, Tax Withholding, Stock Dividend