COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2017

Feb 14, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2017-02-13

Reporting Person: ABERDEEN JEFFERY D (Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-13	Common Stock	M	5890	$27.7698	Acquired	48012	Direct
2017-02-13	Common Stock	F	1125	$57.15	Disposed	46887	Direct
2017-02-13	Common Stock	D	2863	$57.15	Disposed	44024	Direct
2017-02-14	Common Stock	S	1902	$56.9716	Disposed	42122	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-13	Stock Appreciation Rights	$27.7698	M	5890	Disposed	2018-02-22	Common Stock (5890)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	22937	Indirect

Footnotes

F1: All stock holding balances adjusted to include a 5% stock dividend. Record date of 12/2/2016 and payable 12/19/2016.

F2: The stock appreciation rights vest in four equal annual installments beginning February 22, 2009.