Form 4: Senior VP Heise Sells CBSH Shares for Tax Obligations
Insider Transaction Report
Commerce Bancshares Senior Vice President Richard W. Heise disposed of 701 shares of common stock to cover tax withholding obligations at a price of $51.61 per share.
Summary
- Richard W. Heise, Senior Vice President of Commerce Bancshares Inc. /MO/ (CBSH), reported a transaction involving company stock.
- On March 3, 2026, Heise disposed of 701 shares of Common Stock.
- The disposition was made at a price of $51.61 per share.
- This transaction was a disposition to the issuer to satisfy tax withholding obligations, indicated by Transaction Code 'F'.
- Following this transaction, Heise beneficially owns 21,033 shares of Common Stock directly.
- The filing also includes a Power of Attorney, dated April 20, 2022, authorizing Margaret M. Rowe and Paul A. Steiner to execute Section 16 filings on Heise's behalf.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, representing a routine insider transaction for tax purposes rather than a discretionary sale indicating a change in sentiment towards the company's prospects.
Future Outlook
No forward-looking statements or guidance are provided in this Form 4 filing.
Industry Context
StockSavvy.ai notes that routine insider transactions, such as dispositions for tax withholding, are common and typically do not signal a change in company fundamentals or management's long-term view. This is a standard practice for executives receiving equity compensation.
Comparison to Industry Standards
- This Form 4 reports a routine insider transaction for tax purposes, which is a standard practice across industries for executives receiving equity compensation. It does not involve performance metrics that can be directly compared to industry benchmarks or specific company results.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Authorization for SEC Filings | Richard W. Heise granted a Power of Attorney to Margaret M. Rowe and Paul A. Steiner to execute Forms 3, 4, and 5 on his behalf for Section 16(a) compliance. | April 20, 2022 | Streamlines the process for timely and accurate insider trading compliance filings for the reporting person. |
Related Party Transactions
- Disposition of 701 shares of Common Stock to Commerce Bancshares Inc. /MO/ by Senior Vice President Richard W. Heise to satisfy tax withholding obligations.
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine tax-related transaction, not a discretionary sale that would typically signal a change in company outlook.
- Management: Ensures compliance with Section 16(a) reporting requirements through the authorized Power of Attorney.
Key Dates
| Date | Description |
|---|---|
| April 20, 2022 | Power of Attorney executed by Richard W. Heise. |
| March 3, 2026 | Date of transaction (disposition of shares). |
| March 5, 2026 | Date Form 4 was signed by attorney-in-fact. |
Recommendation
holdThis Form 4 reports a routine disposition of shares by an executive to cover tax withholding obligations, which is a common practice and does not typically indicate a change in the company's fundamentals or the executive's long-term outlook. Therefore, it does not warrant a change in investment recommendation based solely on this filing.
Keywords
Commerce Bancshares, CBSH, Insider Transaction, Form 4, Stock Sale, Executive Compensation, Tax Withholding, Richard W. Heise
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