Commerce Bancshares Inc.
01/31/2025 | Press release | Distributed by Public on 01/31/2025 13:36
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) On January 28, 2025, the Compensation and Human Resources Committee of the Board of Directors of Commerce Bancshares, Inc. (the Company) approved the base salary for 2025 (effective March 29, 2025) and the payment of cash bonuses to the Company's CEO and its other named executive officers, as listed in the table below. The cash bonuses include performance-based compensation in accordance with the Company's Executive Incentive Compensation Plan. The Committee also approved the grant to those individuals of restricted stock awards under the Company's Equity Incentive Plan.
| 2024 | Restricted | |||
| 2025 | Performance- | Stock | ||
| Salary | Based Bonus | Awards | ||
| Executive Officer | Title | $ | $ | # |
| John W. Kemper | President & CEO | 1,050,000 | 1,964,441 | 43,931 |
| Charles G. Kim | Executive Vice President & CFO | 601,093 | 705,904 | 7,946 |
| Kevin G. Barth | Executive Vice President | 601,093 | 705,904 | 7,946 |
| Robert S. Holmes | Executive Vice President | 531,738 | 550,323 | 6,316 |
| John K. Handy | Executive Vice President | 531,738 | 409,386 | 7,845 |
Exhibits
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.