Form 4: Commerce Bancshares SVP Sells Shares for Tax Obligation
Insider Transaction Report
Commerce Bancshares Senior Vice President Douglas D. Neff sold 898 shares of common stock to cover tax obligations, following a 5% stock dividend.
Summary
- Douglas D. Neff, Senior Vice President of Commerce Bancshares Inc. (CBSH), reported a transaction involving the disposition of common stock.
- On February 2, 2026, Neff disposed of 898 shares of CBSH Common Stock at a price of $53.23 per share.
- The transaction code 'F' indicates that the disposition was made to satisfy tax withholding obligations.
- Following this transaction, Neff directly owns 10,576 shares and indirectly owns 715 shares through a 401(k) plan.
- All stock holding balances were adjusted to include a 5% stock dividend, which had a record date of December 2, 2025, and was payable on December 16, 2025.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a largely neutral event, as the insider sale is for tax purposes. The preceding 5% stock dividend is a positive for shareholders.
Positives
- A 5% stock dividend was issued, benefiting shareholders by increasing their share count.
Negatives
- Douglas D. Neff disposed of 898 shares of common stock.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that insider sales for tax obligations (Transaction Code F) are common and generally not indicative of management's sentiment towards the company's future prospects, unlike open market sales. The preceding 5% stock dividend is a positive signal of returning value to shareholders.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Delegation of Authority | Douglas D. Neff granted Power of Attorney to Margaret M. Rowe and Paul A. Steiner to prepare, execute, and file SEC forms (e.g., Forms 3, 4, 5) on his behalf, and to manage his EDGAR account. | August 25, 2025 | Streamlines compliance for insider reporting requirements for Douglas D. Neff by delegating administrative tasks to authorized company personnel. |
Related Party Transactions
- Douglas D. Neff, a Senior Vice President, is an insider of Commerce Bancshares Inc., making his stock transactions related-party dealings.
- The Power of Attorney grants authority to other company personnel (Margaret M. Rowe and Paul A. Steiner) to act on Neff's behalf for SEC filings, representing a formal related-party arrangement for compliance purposes.
Stakeholder Impact
- Shareholders: The 5% stock dividend increases their share count. The insider sale for tax purposes is a routine event and does not typically signal a change in company outlook.
Key Dates
| Date | Description |
|---|---|
| 08/25/2025 | Date Power of Attorney was executed by Douglas D. Neff. |
| 12/02/2025 | Record date for 5% stock dividend. |
| 12/16/2025 | Payment date for 5% stock dividend. |
| 02/02/2026 | Date of common stock disposition by Douglas D. Neff. |
| 02/04/2026 | Date Form 4 was signed by Paul A. Steiner on behalf of Douglas D. Neff. |
Recommendation
holdThe filing details a routine insider transaction for tax purposes following a stock dividend. This type of transaction (Code F) is generally not indicative of a change in the insider's view of the company's prospects and therefore does not warrant a change in investment recommendation based solely on this filing. The stock dividend is a positive, but the overall impact of this specific Form 4 is neutral.
Keywords
Commerce Bancshares, CBSH, Douglas D. Neff, Insider Transaction, Form 4, Stock Sale, Tax Obligation, Stock Dividend, Senior Vice President
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