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

Jan 25, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2007-01-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-23	Common Stock	S	2380	$48.5	Disposed	1129906	Direct
2007-01-23	Common Stock	S	220	$48.51	Disposed	1129686	Direct
2007-01-23	Common Stock	S	500	$48.511	Disposed	1129186	Direct
2007-01-23	Common Stock	S	1200	$48.55	Disposed	1127986	Direct
2007-01-23	Common Stock	S	2091	$48.551	Disposed	1125895	Direct
2007-01-23	Common Stock	S	900	$48.56	Disposed	1124995	Direct
2007-01-23	Common Stock	S	3096	$48.561	Disposed	1121899	Direct
2007-01-23	Common Stock	S	100	$48.57	Disposed	1121799	Direct
2007-01-23	Common Stock	S	2500	$48.571	Disposed	1119299	Direct
2007-01-23	Common Stock	S	3400	$48.6	Disposed	1115899	Direct
2007-01-23	Common Stock	S	1100	$48.601	Disposed	1114799	Direct
2007-01-23	Common Stock	S	1600	$48.611	Disposed	1113199	Direct
2007-01-23	Common Stock	S	500	$48.631	Disposed	1112699	Direct
2007-01-23	Common Stock	S	1990	$48.65	Disposed	1110709	Direct
2007-01-23	Common Stock	S	1000	$48.651	Disposed	1109709	Direct
2007-01-23	Common Stock	S	10	$48.66	Disposed	1109699	Direct
2007-01-23	Common Stock	S	304	$48.69	Disposed	1109395	Direct
2007-01-23	Common Stock	S	1000	$48.691	Disposed	1108395	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1604	Indirect
Common Stock	20981	Indirect
Common Stock	10491	Indirect
Common Stock	10492	Indirect
Common Stock	6855	Indirect
Common Stock	20985	Indirect
Common Stock	2207821	Indirect
Common Stock	43985	Indirect
Common Stock	158244	Indirect
Common Stock	20971	Indirect