FOWLER JUNE MCALLISTER 4

What Happened
June McAllister Fowler, a director of Commerce Bancshares, received a grant/award of 662 shares (transaction code A) on February 28, 2026. The filing reports an acquisition price of $50.99 per share, for a total reported value of approximately $33,755. This was an award/compensation-related acquisition rather than an open-market purchase.

Key Details

• Transaction date: 2026-02-28; Filing date (Form 4): 2026-03-03 (appears timely; Form 4s are due within 2 business days)
• Shares acquired: 662 at $50.99 per share
• Total reported value: $33,755 (662 × $50.99)
• Shares owned after transaction: not specified in the information provided on this filing
• Footnote: All stock holding balances were adjusted to include a 5% stock dividend (record date 12/02/2025; payable 12/16/2025)
• Transaction type: Award/Grant (compensation), not a sale or market purchase

Context
This was a compensation award (grant) to a director — routine corporate compensation that may reflect fixed director pay or equity grant programs. Such awards are different from insider open-market purchases (which some investors view as a bullish signal) and do not, by themselves, indicate the insider’s immediate trading intent.