COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2005

Jul 21, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2005-07-19

Reporting Person: KEMPER DAVID W (Director, Chairman of the Board, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-07-19	Common Stock	M	28103	$32.5482	Acquired	1036785	Direct
2005-07-19	Common Stock	S	28	$54	Disposed	1036757	Direct
2005-07-19	Common Stock	S	100	$54.1	Disposed	1036657	Direct
2005-07-19	Common Stock	S	100	$54.13	Disposed	1036557	Direct
2005-07-19	Common Stock	S	300	$53.86	Disposed	1036257	Direct
2005-07-19	Common Stock	S	400	$53.89	Disposed	1035857	Direct
2005-07-19	Common Stock	S	600	$54.12	Disposed	1035257	Direct
2005-07-19	Common Stock	S	668	$53.88	Disposed	1034589	Direct
2005-07-19	Common Stock	S	3000	$53.95	Disposed	1031589	Direct
2005-07-19	Common Stock	S	1200	$53.87	Disposed	1030389	Direct
2005-07-19	Common Stock	S	1300	$53.93	Disposed	1029089	Direct
2005-07-19	Common Stock	S	5903	$53.83	Disposed	1023186	Direct
2005-07-19	Common Stock	S	1800	$53.82	Disposed	1021386	Direct
2005-07-19	Common Stock	S	12704	$53.8	Disposed	1008682	Direct
2005-07-20	Common Stock	M	60628	$32.5482	Acquired	1069310	Direct
2005-07-20	Common Stock	S	1000	$53.61	Disposed	1068310	Direct
2005-07-20	Common Stock	S	59628	$53.5	Disposed	1008682	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-19	Stock Option (right to buy)	$32.5482	M	28103	Disposed	2011-03-05	Common Stock (28103)	Direct
2005-07-20	Stock Option (right to buy)	$32.5482	M	60628	Disposed	2011-03-05	Common Stock (60628)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1534	Indirect
Common Stock	19031	Indirect
Common Stock	19035	Indirect
Common Stock	6049	Indirect
Common Stock	19035	Indirect
Common Stock	2002568	Indirect
Common Stock	39897	Indirect
Common Stock	143533	Indirect
Common Stock	19022	Indirect