COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2011

Nov 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2011-11-28

Reporting Person: KEMPER JONATHAN M (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-28	Common Stock	S	127000	$35.3132	Disposed	1138734	Direct
2011-11-29	Common Stock	S	8000	$35.4441	Disposed	1130734	Direct
2011-11-29	Common Stock	S	7000	$35.4286	Disposed	1123734	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30889	Indirect
Common Stock	14024	Indirect
Common Stock	31462	Indirect
Common Stock	18712	Indirect
Common Stock	26332	Indirect
Common Stock	65134	Indirect
Common Stock	158220	Indirect
Common Stock	123670	Indirect
Common Stock	18712	Indirect
Common Stock	26750	Indirect
Common Stock	201962	Indirect

Footnotes

F1: All stock holdings adjusted to include 5% stock dividend. Ex-date 11/28/2011.