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: FOSTER SARA E (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-27	Common Stock	A	2952	—	Acquired	42138	Direct
2016-01-27	Common Stock	A	1362	—	Acquired	43500	Direct
2016-01-28	Common Stock	F	923	$40.06	Disposed	42577	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-27	Stock Appreciation Rights	$39.38	A	5482	Acquired	2026-01-27	Common Stock (5482)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13148	Indirect

Footnotes

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