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: Callahan Daniel D. (Exec. Vice President & CCO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-27	Common Stock	A	2543	—	Acquired	32747	Direct
2016-01-27	Common Stock	A	1307	—	Acquired	34054	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-27	Stock Appreciation Rights	$39.38	A	4723	Acquired	2026-01-27	Common Stock (4723)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13826	Indirect
Common Stock	272	Indirect

Footnotes

F1: The stock appreciation right vests in four equal annual installments beginning January 27, 2017.