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

Feb 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2020-02-05

Reporting Person: STEINER PAUL A (Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-05	Common Stock	M	542	$33.2141	Acquired	2412	Direct
2020-02-05	Common Stock	F	104	$71.15	Disposed	2308	Direct
2020-02-05	Common Stock	D	254	$71.15	Disposed	2054	Direct
2020-02-05	Common Stock	S	405	$71.1136	Disposed	1649	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-05	Stock Appreciation Rights	$33.2141	M	542	Disposed	2024-03-05	Common Stock (542)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3728	Indirect

Footnotes

F1: All stock holding balances adjusted to include a 5% stock dividend. Record date 12/3/2019, payable 12/18/2019.

F2: Sale prices ranged from $71.10 to $71.13.

F3: The stock appreciation rights vest in four equal annual installments beginning on March 5, 2015.