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

Jan 29, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2015-01-27

Reporting Person: RAUSCHER ROBERT (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-27	Common Stock	A	436	—	Acquired	33638	Direct
2015-01-27	Common Stock	A	184	—	Acquired	33822	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-27	Stock Appreciation Rights	$40.98	A	808	Acquired	2025-01-27	Common Stock (808)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8655	Indirect

Footnotes

F1: All stock holdings were adjusted to include a 5% stock dividend (record date 11/28/14, payable 12/15/14).

F2: The stock appreciation rights vest on January 27, 2016.