COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2016

Nov 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2016-11-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-21	Common Stock	M	28880	$30.769	Acquired	111431	Direct
2016-11-21	Common Stock	F	5643	$57.58	Disposed	105788	Direct
2016-11-21	Common Stock	D	15433	$57.58	Disposed	90355	Direct
2016-11-22	Common Stock	S	7804	$57.7642	Disposed	82551	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-21	Stock Appreciation Rights	$30.769	M	28880	Disposed	2018-02-01	Common Stock (28880)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	24591	Indirect

Footnotes

F1: Sales prices ranged from $57.75 to $57.79.

F2: The stock appreciation rights vest in four equal annual installments beginning February 1, 2009.