COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2015

Nov 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2015-11-09

Reporting Person: KIM CHARLES G (Exec. Vice President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-09	Common Stock	M	23638	$33.6118	Acquired	102248	Direct
2015-11-09	Common Stock	F	2645	$47.98	Disposed	99603	Direct
2015-11-09	Common Stock	D	16560	$47.98	Disposed	83043	Direct
2015-11-10	Common Stock	S	4433	$47.9272	Disposed	78610	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-11-09	Stock Appreciation Rights	$33.6118	M	23638	Disposed	2017-02-02	Common Stock (23638)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	22829	Indirect

Footnotes

F1: Sale prices ranged from $47.92 to $47.93.

F2: The stock appreciation rights vest in four equal annual installments beginning February 2, 2008.