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Form 3 COMMERCE BANCSHARES INC For: May 15 Filed by: BRANDJORD STEVEN A

May 21, 2026 5:14 PM
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
BRANDJORD STEVEN A
(Last) (First) (Middle)
1000 WALNUT ST.
(Street)
KANSAS CITY MO 64106
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/15/2026 		3. Issuer Name and Ticker or Trading Symbol
COMMERCE BANCSHARES INC /MO/ [ CBSH ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Controller
 5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 4,251
D
Common Stock 832
I
401(k)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Rights 03/03/2021 (1) 03/03/2030 Common Stock 342 46.0788 D
Stock Appreciation Rights 03/04/2022 (2) 03/04/2031 Common Stock 180 58.5372 D
Stock Appreciation Rights 03/03/2023 (3) 03/03/2032 Common Stock 256 58.8232 D
Stock Appreciation Rights 03/02/2024 (4) 03/02/2033 Common Stock 228 56.4604 D
Stock Appreciation Rights 03/01/2025 (5) 03/01/2034 Common Stock 275 47.093 D
Stock Appreciation Rights 03/03/2026 (6) 03/03/2035 Common Stock 199 61.7333 D
Explanation of Responses:
1. The stock appreciation right vests in four equal annual installments beginning March 3, 2021.
2. The stock appreciation right vests in four equal annual installments beginning March 4, 2022.
3. The stock appreciation right vests in four equal annual installments beginning March 3, 2023.
4. The stock appreciation right vests in four equal annual installments beginning March 2, 2024.
5. The stock appreciation right vests in four equal annual installments beginning March 1, 2025.
6. The stock appreciation right vests in four equal annual installments beginning March 3, 2026.
/s/ By: Steven A. Brandjord 05/21/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

ATTACHMENTS / EXHIBITS

POWER OF ATTORNEY (PUBLIC): BRANDJORD POWER OF ATTORNEY 5.16.2026

Categories

SEC Filings