COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2007

Nov 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2007-11-14

Reporting Person: MATTHEWS ROBERT C JR (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-14	Common Stock	S	3872	$47.35	Disposed	24603	Direct
2007-11-14	Common Stock	S	1100	$47.36	Disposed	23503	Direct
2007-11-14	Common Stock	S	10	$47.38	Disposed	23493	Direct
2007-11-14	Common Stock	S	1000	$47.39	Disposed	22493	Direct
2007-11-14	Common Stock	S	100	$47.4	Disposed	22393	Direct
2007-11-14	Common Stock	S	105	$47.41	Disposed	22288	Direct
2007-11-14	Common Stock	S	1018	$47.42	Disposed	21270	Direct
2007-11-14	Common Stock	S	500	$47.43	Disposed	20770	Direct
2007-11-14	Common Stock	S	5600	$47.45	Disposed	15170	Direct
2007-11-14	Common Stock	S	300	$47.47	Disposed	14870	Direct
2007-11-14	Common Stock	S	4100	$47.5	Disposed	10770	Direct
2007-11-14	Common Stock	S	300	$47.67	Disposed	10470	Direct
2007-11-14	Common Stock	S	500	$47.72	Disposed	9970	Direct
2007-11-14	Common Stock	S	100	$47.731	Disposed	9870	Direct
2007-11-14	Common Stock	M	15353	$28.9	Acquired	25223	Direct
2007-11-14	Common Stock	M	3252	$28.9	Acquired	28475	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-14	Stock Option (right to buy)	$28.9	M	3252	Disposed	2008-02-05	Common Stock (3252)	Direct
2007-11-14	Stock Option (right to buy)	$28.9	M	15353	Disposed	2008-02-05	Common Stock (15353)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18953	Indirect