SEC Form 3

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 MISSOURI 64106 (City) (State) (Zip) UNITED STATES (Country)	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 ]
		3a. Foreign Trading Symbol	5. If Amendment, Date of Original Filed (Month/Day/Year)
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Controller	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 5 (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.
* Form 3: SEC 1473 (03-26)