Form 4: Commerce Bancshares SVP Heise Reports Stock Dividend

Senior Vice President Richard W. Heise of Commerce Bancshares Inc. reported an acquisition of 1,157 common shares resulting from a 5% stock dividend.

Summary

• Richard W. Heise, Senior Vice President of Commerce Bancshares Inc. (CBSH), reported a change in beneficial ownership of Common Stock.
• On February 3, 2026, Heise acquired 1,157 shares of Common Stock.
• This acquisition was due to a 5% stock dividend, not a purchase, as indicated by the $0 transaction price.
• The stock dividend had a record date of December 2, 2025, and was payable on December 16, 2025.
• Following this transaction, Heise beneficially owns 21,734 shares of Common Stock directly.
• A Power of Attorney was granted on September 2, 2025, to Margaret M. Rowe and Paul A. Steiner to handle SEC filings on Heise's behalf.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event for shareholders, as a stock dividend indicates a return of value and confidence from the company, though it doesn't reflect new operational performance.

Positives

• The reporting person's total beneficial ownership of Common Stock increased to 21,734 shares.
• The company issued a 5% stock dividend, indicating a return of value to shareholders.

Risks

• The Power of Attorney explicitly states that it does not relieve the undersigned from responsibility for compliance with Section 13 or Section 16 of the Exchange Act, including reporting requirements and liability for disgorgement of profits under Section 16(b).

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the reporting of a past transaction and the delegation of filing authority.

Management Comments

• The Power of Attorney acknowledges that it does not relieve the undersigned from responsibility for compliance with obligations under Section 13 or Section 16 of the Exchange Act.

Industry Context

StockSavvy.ai notes that stock dividends are a common method for companies in the financial sector, like Commerce Bancshares, to return value to shareholders while conserving cash, often signaling confidence in future earnings and a desire to increase share liquidity. This move aligns with a strategy to reward long-term holders.

Corporate Governance

Stakeholder Impact

• Shareholders: Benefit from the 5% stock dividend, increasing their total share count.
• Management (Richard W. Heise): Ensures compliance with SEC reporting requirements through delegated authority.

Key Dates

Recommendation

This Form 4 reports a routine insider transaction resulting from a stock dividend, which is an expected corporate action. It does not provide new information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. The stock dividend itself is a positive for existing shareholders, but not a catalyst for new investment based solely on this filing.

Keywords

Commerce Bancshares, CBSH, Richard W. Heise, Form 4, Insider Transaction, Stock Dividend, Beneficial Ownership, SEC Filing, Corporate Governance