COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2006

Dec 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2006-12-05

Reporting Person: CLARK A BAYARD III (Executive Vice President, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-05	Common Stock	S	1003	$48.671	Disposed	64807	Direct
2006-12-05	Common Stock	S	9	$48.671	Disposed	64798	Direct
2006-12-05	Common Stock	S	766	$48.67	Disposed	64032	Direct
2006-12-05	Common Stock	S	100	$48.66	Disposed	63932	Direct
2006-12-05	Common Stock	S	600	$48.65	Disposed	63332	Direct
2006-12-05	Common Stock	S	1034	$48.571	Disposed	62298	Direct
2006-12-05	Common Stock	S	900	$48.57	Disposed	61398	Direct
2006-12-05	Common Stock	S	1500	$48.551	Disposed	59898	Direct
2006-12-05	Common Stock	S	7800	$48.55	Disposed	52098	Direct

Footnotes

F1: Stock holdings adjusted to include 5% stock dividend -- record date 11/29/2006; payable date 12/13/2006