COMMERCE BANCSHARES INC /MO/ - Director's Dealing 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2004-04-15

Reporting Person: ANDERSON ANDREW F (Senior Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-15	Common Stock	M	7846	$29.9699	Acquired	101342	Direct
2004-04-15	Common Stock	M	3535	$33.4553	Acquired	104877	Direct
2004-04-15	Common Stock	M	7524	$34.1756	Acquired	112401	Direct
2004-04-15	Common Stock	M	3150	$35.4476	Acquired	115551	Direct
2004-04-15	Common Stock	M	4962	$38.458	Acquired	120513	Direct
2004-04-15	Common Stock	M	276	$35.3742	Acquired	120789	Direct
2004-04-15	Common Stock	S	8000	$44.75	Disposed	112789	Direct
2004-04-15	Common Stock	S	450	$44.48	Disposed	112339	Direct
2004-04-15	Common Stock	S	1550	$44.47	Disposed	110789	Direct
2004-04-15	Common Stock	S	2300	$44.42	Disposed	108489	Direct
2004-04-15	Common Stock	S	696	$44.4	Disposed	107793	Direct
2004-04-15	Common Stock	S	200	$44.39	Disposed	107593	Direct
2004-04-15	Common Stock	S	300	$44.37	Disposed	107293	Direct
2004-04-15	Common Stock	S	2250	$44.36	Disposed	105043	Direct
2004-04-15	Common Stock	S	1547	$44.35	Disposed	103496	Direct
2004-04-15	Common Stock	S	2000	$44.32	Disposed	101496	Direct
2004-04-15	Common Stock	S	1150	$44.2	Disposed	100346	Direct
2004-04-15	Common Stock	S	373	$44.3	Disposed	99973	Direct
2004-04-15	Common Stock	S	1000	$44.29	Disposed	98973	Direct
2004-04-15	Common Stock	S	843	$44.26	Disposed	98130	Direct
2004-04-15	Common Stock	S	2050	$44.25	Disposed	96080	Direct
2004-04-15	Common Stock	S	100	$44.24	Disposed	95980	Direct
2004-04-15	Common Stock	S	484	$44.21	Disposed	95496	Direct
2004-04-15	Common Stock	S	1400	$44.19	Disposed	94096	Direct
2004-04-15	Common Stock	S	100	$44.18	Disposed	93996	Direct
2004-04-15	Common Stock	S	500	$44.16	Disposed	93496	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-15	Non-Qualified Stock Option (right to buy)	$35.4476	M	3150	Disposed	2013-03-05	Common Stock (3150)	Direct
2004-04-15	Stock Option (right to buy)	$29.9699	M	7846	Disposed	2009-02-01	Common Stock (7846)	Direct
2004-04-15	Stock Option (right to buy)	$33.4553	M	3535	Disposed	2008-02-05	Common Stock (3535)	Direct
2004-04-15	Stock Option (right to buy)	$34.1756	M	7524	Disposed	2011-03-05	Common Stock (7524)	Direct
2004-04-15	Stock Option (right to buy)	$35.3742	M	276	Disposed	2012-09-30	Common Stock (276)	Direct
2004-04-15	Stock Option (right to buy)	$38.458	M	4962	Disposed	2012-03-06	Common Stock (4962)	Direct