David W. Kemper, Executive Chairman of both Post Holdings (POST) and Commerce Bancshares (CBSH), has filed 59 Form 4 transactions across the two companies, with a clear pattern of accumulation through compensation awards rather than discretionary buying. His only open-market purchase was a $176,274 acquisition of POST shares on November 24, 2025, which stands as the single "P" transaction in the dataset. By contrast, his open-market selling has been more substantial, totaling $1.53 million, though the most recent sale was a $149,446 disposition of CBSH stock on January 30, 2026. The bulk of his activity consists of "A" grants—compensation awards that are not discretionary purchases—which have added roughly $607,511 in value across the two tickers.
The recent transaction stream is dominated by recurring monthly POST grants of approximately $17,222 each, occurring on a predictable schedule from September 2025 through June 2026, alongside quarterly CBSH awards of roughly $6,800–$7,200. These are mechanical compensation events, not signals of conviction. The only discretionary signals are the November POST purchase and the January CBSH sale, which together suggest a mild rotation toward Post Holdings and away from Commerce Bancshares. A January 28, 2026 CBSH "F" transaction—$57,821 in shares withheld for tax purposes—further reduces his CBSH position automatically, while the January 30 sale appears to be a separate, deliberate reduction. Overall, Kemper's pattern shows consistent accumulation via compensation in both companies, but his only true open-market actions skew slightly toward selling CBSH and buying POST, with the POST purchase being roughly 18% larger than the CBSH sale.
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