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

Jan 29, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2016-01-27

Reporting Person: STRANGHOENER V RAYMOND (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-27	Common Stock	A	3633	—	Acquired	60323	Direct
2016-01-27	Common Stock	A	1795	—	Acquired	62118	Direct
2016-01-28	Common Stock	F	1186	$40.06	Disposed	60932	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-27	Stock Appreciation Rights	$39.38	A	6748	Acquired	2026-01-27	Common Stock (6748)	Direct

Footnotes

F1: All stock holdings were adjusted to include a 5% stock dividend (record date 11/27/15, payable 12/14/15).

F2: The stock appreciation right vests in four equal annual installments beginning on January 27, 2017.