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

Sep 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2016-09-02

Reporting Person: Kellerhals Patricia R (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-02	Common Stock	M	1175	$33.707	Acquired	6805	Direct
2016-09-02	Common Stock	F	132	$51.02	Disposed	6673	Direct
2016-09-02	Common Stock	D	777	$51.02	Disposed	5896	Direct
2016-09-06	Common Stock	S	273	$50.2901	Disposed	5623	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-02	Stock Appreciation Rights	$33.707	M	1175	Disposed	2023-04-17	Common Stock (1175)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17137	Indirect

Footnotes

F1: This stock appreciation right vests in four equal annual installments beginning on April 17, 2014.