Form 4: Commerce Bancshares Executive Chairman Acquires Shares
Insider Transaction Report
David W. Kemper, Executive Chairman of Commerce Bancshares, acquired 150 shares of common stock through a pre-arranged trading plan.
Summary
- David W. Kemper, Executive Chairman and a 10% owner of Commerce Bancshares Inc. /MO/ (CBSH), acquired 150 shares of common stock.
- The transaction occurred on March 24, 2026, at a price of $48.0931 per share.
- This acquisition was made pursuant to a Rule 10b5-1 pre-arranged trading plan.
- Following this transaction, Mr. Kemper's total beneficial ownership stands at 1,269,451 shares held directly and 490,212 shares held indirectly through various trusts and an executive compensation plan, totaling 1,759,663 shares.
Sentiment
Score: 7
Explanation: StockSavvy.ai views this as a moderately positive signal. While the transaction size is small and part of a pre-arranged plan, it still reflects an insider's belief in the company's long-term value.
Positives
- The acquisition of shares by an Executive Chairman signals continued confidence in the company's future prospects.
- The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned, long-term investment strategy by the insider.
Future Outlook
The filing does not contain explicit forward-looking statements or guidance, but the insider acquisition under a 10b5-1 plan implicitly suggests a positive long-term outlook from management.
Industry Context
StockSavvy.ai notes that insider buying, even in small amounts and through pre-arranged plans, can be interpreted by the market as a positive signal, suggesting that company leadership believes the stock is undervalued or has strong future potential, potentially outperforming industry peers.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Authorization of Attorney-in-Fact | David W. Kemper granted a Power of Attorney to Thomas J. Noack and Paul A. Steiner to execute and file Forms 3, 4, and 5 on his behalf, ensuring compliance with Section 16(a) of the Securities Exchange Act of 1934. | 04/17/2019 | This streamlines the process for insider transaction reporting and ensures timely compliance with SEC regulations for the Executive Chairman. |
Related Party Transactions
- David W. Kemper holds indirect beneficial ownership through several trusts (CB Kemper Rev Trust, EC Kemper Rev Trust, JW Kemper Rev Trust, WL Kemper Irrev Trust, WL Kemper Rev Trust) and Tower Properties Co., which are typically considered related parties to the reporting person.
Stakeholder Impact
- Shareholders may view the insider purchase as a positive indicator of management's confidence in the company's stock performance.
Key Dates
| Date | Description |
|---|---|
| 04/17/2019 | Date David W. Kemper executed the Power of Attorney authorizing Thomas J. Noack and Paul A. Steiner to file Forms 3, 4, and 5 on his behalf. |
| 03/24/2026 | Date of the reported transaction where David W. Kemper acquired 150 shares of common stock. |
| 03/26/2026 | Date the Form 4 was signed by Paul A. Steiner, attorney-in-fact for David W. Kemper. |
Recommendation
holdThe acquisition of shares by the Executive Chairman, even a modest amount under a pre-arranged plan, is a positive signal of insider confidence. However, without additional financial or strategic updates, a 'hold' recommendation is appropriate, acknowledging the positive sentiment while awaiting further catalysts.
Keywords
Commerce Bancshares, CBSH, Insider Trading, Form 4, Stock Acquisition, Executive Chairman, Rule 10b5-1, Banking, Financial Services
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