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

Jan 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2011-01-19

Reporting Person: PETRIE MICHAEL J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-19	Common Stock	M	7031	$35.4559	Acquired	11821	Direct
2011-01-19	Common Stock	M	6697	$35.1915	Acquired	18518	Direct
2011-01-19	Common Stock	S	13728	$42.438	Disposed	4790	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-19	Non-qualified Stock Option (Right to Buy)	$35.4559	M	7031	Disposed	2014-03-05	Common Stock (7031)	Direct
2011-01-19	Non-qualified Stock Option (Right to Buy)	$35.1915	M	6697	Disposed	2015-01-28	Common Stock (6697)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	25490	Indirect

Footnotes

F1: Stock holdings adjusted to include 5% stock dividend. Record date 12/6/2010. Payable date 12/20/2010.