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

May 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2016-05-24

Reporting Person: FOSTER SARA E (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-24	Common Stock	M	13957	$32.0112	Acquired	55889	Direct
2016-05-24	Common Stock	F	1580	$48.47	Disposed	54309	Direct
2016-05-24	Common Stock	D	9218	$48.47	Disposed	45091	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-24	Stock Appreciation Rights	$32.0112	M	13957	Disposed	2017-02-02	Common Stock (13957)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13179	Indirect

Footnotes

F1: The stock appreciation rights vest in four equal annual installments beginning February 2, 2008.