e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 6, 2009
 
Commerce Bancshares, Inc.
(Exact name of registrant as specified in its charter)
         
Missouri   0-2989   43-0889454
         
(State of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
         
1000 Walnut,        
Kansas City, MO       64106
         
(Address of principal executive offices)       (Zip Code)
         
(816) 234-2000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
  o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
  o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
  o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
     On February 6, 2009 the Company’s Board of Directors approved the recommendations of the Compensation and Human Resources Committee with respect to the base salary for 2009 (effective April 1, 2009) and the payment of cash bonuses to the Company’s CEO and its other named executive officers. The cash bonuses include performance-based compensation in accordance with the Company’s Executive Incentive Compensation Plan. They also include discretionary bonuses outside of the EICP that are not intended to qualify as performance-based. The Board also approved the Committee’s recommendations for the grant to those individuals of restricted stock awards under the Company’s 2005 Equity Incentive Plan.
                                             
                2008   2008   Total   Restricted
        2009   Performance-   Discretionary   2008 Cash   Stock
        Salary   Based Bonus   Bonus   Bonus   Awards
Executive Officer   Title   $   $   $   $   #
David W. Kemper
  Chairman, President & CEO     848,500       234,822       147,003       381,825       25,243  
Jonathan M. Kemper
  Vice Chairman     437,500       87,445       54,743       142,188       10,467  
Seth M. Leadbeater
  Vice Chairman     345,000       63,653       39,847       103,500       5,563  
Charles G. Kim
  Executive Vice President     345,000       63,653       39,847       103,500       5,268  
Kevin G. Barth
  Executive Vice President     345,000       63,653       39,847       103,500       5,268  
A. Bayard Clark
  Executive Vice President & CFO     265,500       40,821       25,554       66,375       4,197  

 


 

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  COMMERCE BANCSHARES, INC.
 
 
  By:     /s/ Jeffery D. Aberdeen    
         Jeffery D. Aberdeen   
         Controller
     (Chief Accounting Officer) 
 
 
Date: February 9, 2009