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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,

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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