UPTON JENNIFER B enters COMMERCE BANCSHARES INC /MO/ with 1.63K shares plus derivative instruments

Holding both equity and derivatives at entry signals strong long-term conviction in the company.

Direct Derivatives

UPTON JENNIFER B

Filed: 9/9/2026ACC: 0000022356-26-000201

InsiderUPTON JENNIFER BCIK 2153394

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IssuerCOMMERCE BANCSHARES INC /MO/CIK 22356

Officer· Senior Vice President

Since Sep 2026

1.63K

Baseline shares

100% direct

1.63K

Direct ownership

1 position

Derivative underlying

7 instruments

Security positions

All direct

Non-Derivative Holdings1

Common Stock

Direct

Shares owned1.63K

Total

1.63K direct1.63K

Security Title	Shares Owned	Ownership Type
Common Stock	1.63K	Direct
Total	1.63K	1.63K direct

Derivative Holdings7

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

275.00

Shares owned

N/A

Exercise price

47.093

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

220.00

Shares owned

N/A

Exercise price

39.1416

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

266.00

Shares owned

N/A

Exercise price

61.7333

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

270.00

Shares owned

N/A

Exercise price

58.5372

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

286.00

Shares owned

N/A

Exercise price

44.7942

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

220.00

Shares owned

N/A

Exercise price

37.9095

Expiration

—

Exercise window

—

Stock Appreciation Rights

Direct

Underlying security

Common Stock

Underlying shares

458.00

Shares owned

N/A

Exercise price

56.4604

Expiration

—

Exercise window

—

Total

Underlying

Owned

0.00

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Stock Appreciation Rights Direct	Common Stock	47.093	—	—	275.00	N/A
Stock Appreciation Rights Direct	Common Stock	39.1416	—	—	220.00	N/A
Stock Appreciation Rights Direct	Common Stock	61.7333	—	—	266.00	N/A
Stock Appreciation Rights Direct	Common Stock	58.5372	—	—	270.00	N/A
Stock Appreciation Rights Direct	Common Stock	44.7942	—	—	286.00	N/A
Stock Appreciation Rights Direct	Common Stock	37.9095	—	—	220.00	N/A
Stock Appreciation Rights Direct	Common Stock	56.4604	—	—	458.00	N/A
Total					2K	0.00