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

Nov 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2019-10-31

Reporting Person: BARTH KEVIN G (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-10-31	Common Stock	M	14288	$29.1173	Acquired	77100	Direct
2019-10-31	Common Stock	M	10469	$34.8827	Acquired	87569	Direct
2019-10-31	Common Stock	F	5765	$64.28	Disposed	81804	Direct
2019-10-31	Common Stock	D	12155	$64.28	Disposed	69649	Direct
2019-10-31	Common Stock	S	6837	$64.1478	Disposed	62812	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-10-31	Stock Appreciation Rights	$29.1173	M	14288	Disposed	2023-04-17	Common Stock (14288)	Direct
2019-10-31	Stock Appreciation Rights	$34.8827	M	10469	Disposed	2024-01-27	Common Stock (10469)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28920	Indirect
Common Stock	11027	Indirect
Common Stock	15286	Indirect

Footnotes

F1: Sale prices ranged from $64.005 to $64.360.

F2: This stock appreciation right vests in four equal annual installments beginning on April 17, 2014.

F3: The stock appreciation rights vest in four equal annual installments beginning January 27, 2015.