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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, jforbes@post-dispatch.com

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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