COMMERCE BANCSHARES INC /MO/ 8-K

What Happened
Commerce Bancshares, Inc. (CBSH) filed an 8-K reporting that Paul A. Steiner, the Company’s Corporate Controller and Chief Accounting Officer, informed the company on March 24, 2026 that he will resign to pursue other opportunities. Mr. Steiner will remain with the company through July 7, 2026 to assist with the transition. The Board has named Steven A. Brandjord as Steiner’s successor; Brandjord will assume the Corporate Controller and Chief Accounting Officer role effective May 2026 following his formal appointment.

Key Details

• Resignation notice: Paul A. Steiner informed the company on March 24, 2026; last day expected July 7, 2026.
• Successor: Steven A. Brandjord to assume role effective May 2026 (after Board appointment).
• Compensation: Brandjord is being granted approximately 2,100 restricted stock units that vest over 4 years under the company’s standard equity award agreement.
• Background: Brandjord joined Commerce in 2014; most recently Assistant Controller and Director of Tax. The filing states Steiner’s decision was not due to any disagreement with the company on finances, accounting, operations, policies or practices.

Why It Matters
This is an executive change affecting the company’s finance leadership—specifically the Corporate Controller and Chief Accounting Officer role, which oversees accounting and financial reporting. The orderly transition timeline, Board-appointed successor from within the company, and equity-based retention award are signs the company aims to maintain continuity in accounting oversight and reporting controls. Investors should note the filing for governance and leadership updates; there were no reported disagreements about financial matters.