Form 4: Commerce Bancshares Director Jonathan M. Kemper Reports Sale of Shares

Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares Inc. on July 22, 2024, at an average price of $63.6571.

Summary

• On July 22, 2024, Jonathan M. Kemper, a director of Commerce Bancshares Inc., sold 19,626 shares of the company's common stock.
• The sale was executed at a price of $63.6571 per share, with sale prices ranging from $63.39 to $63.87.
• Following the transaction, Kemper directly owns 997,112 shares of Commerce Bancshares Inc.
• Kemper also indirectly owns shares through various trusts and plans, including 77,587 shares in a 401(k), 21,532 shares in the Charlotte Kemper Irrev Trust, and other holdings through additional trusts and plans.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of a share sale. The size of the sale is relatively small compared to the total holdings, suggesting it's not necessarily indicative of a negative outlook.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a company (such as directors or officers) buy or sell the company's securities. These filings provide transparency to the market regarding insider transactions.

Comparison to Industry Standards

• Comparing insider trading activity to peers requires analyzing similar filings from directors and officers at comparable regional banks like UMB Financial Corporation (UMBF) or First National of Nebraska.
• A typical analysis would involve looking at the volume of shares traded, the timing of the trades relative to earnings announcements, and the overall sentiment of insider transactions (buying vs. selling) across the industry.

Stakeholder Impact

• The sale of shares by a director could have a minor psychological impact on shareholders, but the relatively small size of the transaction suggests it's unlikely to have a significant material impact.

Key Dates