COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2014

Aug 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2014-08-19

Reporting Person: LEADBEATER SETH M (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-19	Common Stock	M	26590	$35.1617	Acquired	116042	Direct
2014-08-19	Common Stock	F	2062	$45.82	Disposed	113980	Direct
2014-08-19	Common Stock	D	20405	$45.82	Disposed	93575	Direct
2014-08-20	Common Stock	S	4123	$45.8457	Disposed	89452	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-19	Stock Appreciation Rights	$35.1617	M	26590	Disposed	2016-02-17	Common Stock (26590)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6650	Indirect

Footnotes

F1: Sale prices ranged from $45.84 to $45.86.

F2: The stock appreciation right vests in four equal annual installments beginning on February 17, 2007.