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

Apr 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2011-04-26

Reporting Person: STRANGHOENER V RAYMOND (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-26	Common Stock	M	8859	$27.3313	Acquired	37756	Direct
2011-04-26	Common Stock	S	8859	$42.00	Disposed	28897	Direct
2011-04-27	Common Stock	M	12855	$27.3313	Acquired	41752	Direct
2011-04-27	Common Stock	S	12855	$42.00	Disposed	28897	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-26	Non-qualified Stock Option (Right to Buy)	$27.3313	M	8859	Disposed	2012-03-07	Common Stock (8859)	Direct
2011-04-27	Non-qualified Stock Option (Right to Buy)	$27.3313	M	12855	Disposed	2012-03-07	Common Stock (12855)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4489	Indirect