Form 4: Senior VP Sells CBSH Shares for Tax Obligations

Commerce Bancshares Senior Vice President Kim L. Jakovich reported the sale of common stock to cover tax withholding obligations.

Summary

• Kim L. Jakovich, Senior Vice President of Commerce Bancshares Inc. /MO/ (CBSH), reported two transactions involving the disposition of common stock.
• On March 3, 2026, 322 shares of Common Stock were disposed of at a price of $51.61 per share.
• On March 4, 2026, an additional 176 shares of Common Stock were disposed of at a price of $52.25 per share.
• These dispositions were marked with transaction code "F," indicating they were likely for tax withholding purposes related to the vesting of equity awards.
• Following these transactions, Jakovich directly holds 13,690 shares of Common Stock and indirectly holds 1,463 shares in a 401(k) plan.
• The filing was signed by Paul A. Steiner, acting as attorney-in-fact for Kim L. Jakovich, under a Power of Attorney dated April 20, 2022.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the reported transactions are routine tax-related dispositions of shares, not indicative of a change in insider sentiment or company fundamentals.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that Form 4 filings detailing dispositions for tax withholding are routine for executives receiving equity compensation and do not typically reflect a change in management's outlook on the company's prospects. These transactions are common across the financial services industry as part of executive compensation plans.

Comparison to Industry Standards

• These types of transactions (Code F) are standard practice across all industries, including financial services, for executives to cover tax liabilities upon the vesting of restricted stock units or other equity awards. There are no specific comparable companies or projects mentioned in the filing to assess against.

Related Party Transactions

• Kim L. Jakovich, a Senior Vice President, has granted a Power of Attorney to Margaret M. Rowe and Paul A. Steiner, who are likely internal company personnel, to execute SEC Forms 3, 4, and 5 on her behalf.

Stakeholder Impact

• Shareholders: The transactions are routine and unlikely to have a significant direct impact on shareholders, as they represent tax-related dispositions rather than a change in investment thesis by the insider.

Key Dates

Recommendation

The reported transactions are routine dispositions of shares by a Senior Vice President to cover tax withholding obligations upon the vesting of equity awards. Such non-discretionary sales do not typically reflect a change in the insider's view of the company's prospects and therefore do not provide a basis for altering an investment recommendation based solely on this filing.

Keywords

Commerce Bancshares, CBSH, Kim L. Jakovich, Insider Transaction, Form 4, Stock Sale, Tax Withholding, Senior Vice President