COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2003

Sep 3, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2003-09-02

Reporting Person: KEMPER JONATHAN M (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-02	Common Stock	G	1149	—	Disposed	778451	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14175	Indirect
Common Stock	17262	Indirect
Common Stock	21444	Indirect
Common Stock	31202	Indirect
Common Stock	101994	Indirect
Common Stock	36189	Indirect
Common Stock	203545	Indirect
Common Stock	17246	Indirect
Common Stock	130190	Indirect