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Commerce's Kemper earns $3.7 million in first full year as CEO

Commerce's Kemper earns $3.7 million in first full year as CEO

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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

John Kemper, chief executive of Commerce Bancshares since August 2018, earned $3.7 million in his first full year in the top job.

Commerce disclosed executives' pay details for 2019 in a proxy statement filed last week. Kemper's compensation included $919,632 in salary, a $749,100 bonus, stock worth $1.5 million and options valued at $399,979.

The bonus was paid at 81% of target value as Commerce fell short of earnings and revenue goals.

Kemper earned 63 times as much as the median Commerce employee. The company calculated median pay of $58,414 for its 4,755 full-time, part-time and seasonal workers.

John Kemper succeeded his father, David Kemper, as CEO in 2018. David Kemper earned $2.15 million last year as the banking company's chairman.

Commerce's earnings per share grew 2% last year and its share price rose 21%.

Here's what other St. Louis CEOs earned in 2018:

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