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

Jan 29, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2014-01-27

Reporting Person: STRANGHOENER V RAYMOND (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-27	Common Stock	A	3214	—	Acquired	60427	Direct
2014-01-27	Common Stock	A	2103	—	Acquired	62530	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-27	Stock Appreciation Rights	$44.52	A	5128	Acquired	2024-01-27	Common Stock (5128)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5673	Indirect

Footnotes

F1: Stock holdings adjusted to include 5% stock dividend. Record date 11/29/2013 and payable 12/16/2013.

F2: The stock appreciation rights vest in four equal annual installments beginning on January 27, 2015.