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Commerce CEO's pay is flat after below-target bonus

Commerce CEO's pay is flat after below-target bonus

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John Kemper, 40, now CEO and President of Commerce Bancshares

Newly appointed CEO and President of Commerce Bancshares John Kemper, 40, poses in his Clayton office for a photo on Wednesday, Sept. 5, 2018, and talks about the long history of his family's involvement with the bank and St. Louis. Photo by J.B. Forbes,

Commerce Bancshares Chief Executive John Kemper earned $3.66 million last year, down slightly from $3.69 million the previous year, after receiving a below-target bonus.

Kemper's bonus of $664,144 was 70% of his target amount and was based on profit, revenue and return on equity, Commerce disclosed in a proxy statement filed March 12.

His compensation as CEO also included $945,085 in salary, $1.9 million worth of stock and $1,044 in perquisites, including club dues and long-term care insurance.

Kemper earned 57 times as much as the median Commerce employee, whose pay the company calculated at $64,500. Commerce, a bank with headquarters in Kansas City and Clayton, has 4,592 employees.

Commerce's earnings per share fell 15% last year but its share price rose 4%.

Here's what St. Louis CEOs earned in 2019:

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