COMMERCE BANCSHARES INC /MO/ - Director's Dealing 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: BURIK JEFFREY M. (Senior Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-05	Common Stock	M	2854	$27.7308	Acquired	18258	Direct
2020-02-05	Common Stock	M	2092	$33.2216	Acquired	20350	Direct
2020-02-05	Common Stock	M	4678	$32.109	Acquired	25028	Direct
2020-02-05	Common Stock	M	4648	$32.3981	Acquired	29676	Direct
2020-02-05	Common Stock	F	534	$70.8788	Disposed	29142	Direct
2020-02-05	Common Stock	F	341	$70.83	Disposed	28801	Direct
2020-02-05	Common Stock	F	788	$70.925	Disposed	28013	Direct
2020-02-05	Common Stock	F	777	$71.015	Disposed	27236	Direct
2020-02-05	Common Stock	D	1117	$70.8788	Disposed	26119	Direct
2020-02-05	Common Stock	D	982	$70.83	Disposed	25137	Direct
2020-02-05	Common Stock	D	2118	$70.825	Disposed	23019	Direct
2020-02-05	Common Stock	D	2121	$71.015	Disposed	20898	Direct
2020-02-05	Common Stock	S	8370	$70.8542	Disposed	12528	Direct
2020-02-05	Common Stock	I	3181	$70.94	Disposed	0	Indirect

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-05	Stock Appreciation Rights	$27.7308	M	2854	Disposed	2023-04-17	Common Stock (2854)	Direct
2020-02-05	Stock Appreciation Rights	$33.2216	M	2092	Disposed	2024-01-27	Common Stock (2092)	Direct
2020-02-05	Stock Appreciation Rights	$32.109	M	4678	Disposed	2025-01-27	Common Stock (4678)	Direct
2020-02-05	Stock Appreciation Rights	$32.3981	M	4648	Disposed	2026-01-27	Common Stock (4648)	Direct

F1: Sale prices ranged from $70.82 to $70.925.

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.

F4: The stock appreciation rights vest in four equal annual installments beginning January 27, 2016.

F5: The stock appreciation right vests in four equal annual installments beginning January 27, 2017.