COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2020

Feb 14, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2020-02-13

Reporting Person: Kemper John W (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-13	Common Stock	M	14404	$33.2216	Acquired	170024	Direct
2020-02-13	Common Stock	M	11897	$32.109	Acquired	181921	Direct
2020-02-13	Common Stock	F	6318	$70.63	Disposed	175603	Direct
2020-02-13	Common Stock	D	12185	$70.63	Disposed	163418	Direct
2020-02-13	Common Stock	S	7798	$70.5196	Disposed	155620	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-13	Stock Appreciation Rights	$33.2216	M	14404	Disposed	2024-01-27	Common Stock (14404)	Direct
2020-02-13	Stock Appreciation Rights	$32.109	M	11897	Disposed	2025-01-27	Common Stock (11897)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	211996	Indirect

Footnotes

F1: Sale prices ranged from $70.48 to $70.66.

F2: The stock appreciation rights vest in four equal annual installments beginning January 27, 2015.

F3: The stock appreciation rights vest in four equal annual installments beginning January 27, 2016.