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

Feb 12, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2020-02-10

Reporting Person: Kellerhals Patricia R (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-10	Common Stock	M	295	$48.8328	Acquired	8801	Direct
2020-02-10	Common Stock	F	31	$69.81	Disposed	8770	Direct
2020-02-10	Common Stock	D	207	$69.81	Disposed	8563	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-10	Stock Appreciation Rights	$48.8328	M	295	Disposed	2027-01-31	Common Stock (295)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23834	Indirect

Footnotes

F1: The stock appreciation right vests in four equal annual installments beginning January 31, 2018.