Form 4: Commerce Bancshares Inc. Executive Exercises Stock Appreciation Rights and Disposes of Shares
SEC Form 4 Filing
Patricia R. Kellerhals, Senior Vice President of Commerce Bancshares Inc., exercised stock appreciation rights and disposed of shares on July 22, 2024.
Summary
- On July 22, 2024, Patricia R. Kellerhals, a Senior Vice President at Commerce Bancshares Inc. (CBSH), executed transactions involving the company's stock.
- Kellerhals exercised stock appreciation rights, acquiring 612 shares of common stock at a price of $47.5287.
- Following the exercise, Kellerhals disposed of shares to cover tax obligations and for other purposes.
- Specifically, 45 shares were disposed of at $63.75, 457 shares were disposed of at $63.75, and 110 shares were disposed of at $63.793.
- After these transactions, Kellerhals directly owns 26,881 shares of Commerce Bancshares Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects routine transactions by a company executive.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, primarily providing transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 01/23/2020 | Start date of vesting for stock appreciation rights in four equal annual installments. |
| 07/22/2024 | Date of transaction: exercise of stock appreciation rights and disposal of shares. |
| 07/24/2024 | Date of signature on the Form 4 filing. |
| 01/23/2029 | Expiration date of the stock appreciation rights. |
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