COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2019

Nov 22, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2019-11-20

Reporting Person: Handy John K (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-20	Common Stock	I	1264	$66.08	Disposed	0	Indirect
2019-11-20	Common Stock	M	847	$34.4877	Acquired	35400	Direct
2019-11-20	Common Stock	M	2364	$37.931	Acquired	37764	Direct
2019-11-20	Common Stock	F	420	$66.212	Disposed	37344	Direct
2019-11-20	Common Stock	D	1797	$66.212	Disposed	35547	Direct
2019-11-20	Common Stock	S	994	$66.208	Disposed	34553	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-20	Stock Appreciation Rights	$34.4877	M	847	Disposed	2025-03-03	Common Stock (847)	Direct
2019-11-20	Stock Appreciation Rights	$37.931	M	2364	Disposed	2026-03-01	Common Stock (2364)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1409	Indirect
Common Stock	1877	Indirect
Common Stock	4582	Indirect

Footnotes

F1: Sale prices ranged from $66.20 to $66.21.

F2: The stock appreciation rights vest in four equal annual installments beginning on March 3, 2016.

F3: The stock appreciation rights vest in four equal annual installments beginning on March 1, 2017.