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%.