Form 4: CFO Charles Kim Reports Stock Transaction

Commerce Bancshares CFO Charles Kim reported a disposition of 2,561 common shares for tax purposes, with holdings adjusted for a recent 5% stock dividend.

Summary

• Charles G. Kim, Executive Vice President and CFO of Commerce Bancshares Inc. (CBSH), reported a transaction involving company common stock.
• On February 2, 2026, Kim disposed of 2,561 shares of common stock at a price of $53.23 per share.
• This disposition was coded as 'F', indicating payment of exercise price or tax liability by delivering or withholding securities.
• Following the transaction, Kim directly beneficially owns 87,997 shares and indirectly owns 54,217 shares through a 401(k) plan.
• 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.
• A Power of Attorney was executed on August 29, 2025, appointing Margaret M. Rowe and Paul A. Steiner to handle SEC filings on Kim's behalf.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral filing. The transaction is a routine tax-related disposition, and the stock dividend is a positive but previously announced event, neither of which significantly alters the company's fundamental outlook.

Positives

• The company issued a 5% stock dividend, indicating a return of value to shareholders.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly those coded 'F' for tax purposes, are routine and generally do not signal a change in management's confidence in the company's future. The 5% stock dividend is a common way for financial institutions to return value to shareholders while retaining capital.

Comparison to Industry Standards

• Insider transactions for tax purposes (Code F) are standard practice across all industries, including banking, for executives receiving equity compensation.
• Stock dividends, such as the 5% declared by Commerce Bancshares, are a common method for banks like JPMorgan Chase or Bank of America to distribute value to shareholders without depleting cash reserves, especially in periods where capital preservation might be prioritized or as a regular part of shareholder returns.

Corporate Governance

Stakeholder Impact

• Shareholders: The 5% stock dividend is a positive for shareholders, increasing their share count. The insider transaction itself is routine and has minimal direct impact on other shareholders.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction for tax purposes and confirms the impact of a previously announced stock dividend. It does not provide new information that would fundamentally alter the investment thesis for Commerce Bancshares, Inc., thus a 'hold' recommendation is appropriate as existing positions are maintained without new catalysts for buying or selling.

Keywords

Commerce Bancshares, CBSH, Charles G. Kim, CFO, Form 4, Insider Transaction, Stock Dividend, Beneficial Ownership, SEC Filing, Financial Services, Banking