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

Sep 11, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: LEADBEATER SETH M (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-09	Common Stock	M	9857	$13.0855	Acquired	27281	Direct
2003-09-09	Common Stock	S	9857	$44.4	Disposed	17424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-09	Stock Option (right to buy)	$13.0855	M	9857	Disposed	2005-02-03	Common Stock (9857)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3968	Indirect