Insider Transaction Report for Jennifer B. Upton

This filing details stock appreciation rights granted to Jennifer B. Upton, Senior Vice President of Commerce Bancshares Inc. The rights, which vest annually through March 2026, are exercisable into Common Stock. The report indicates direct ownership of these derivative securities, with varying exercise prices and expiration dates extending to 2035. Additionally, Ms. Upton directly owns 1630 shares of Common Stock following these transactions. The filing period is September 1, 2026, with a signature date of September 9, 2026.