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

Jul 31, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2003-03-06

Reporting Person: SULLINS WILLIAM A JR (Former Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-03-06	Common Stock	A	559	—	Acquired	4071	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-03-06	Stock Option (right to buy)	$37.22	A	2500	Acquired	2013-03-06	Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	42794	Indirect

Footnotes

F1: Award of stock pursuant to CBI Restricted Stock Plan.

F2: The option vests in four equal annual installments beginning on March 6, 2003.