COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2021

Mar 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-03-12

Reporting Person: KIM CHARLES G (Exec. Vice President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-12	Common Stock	M	11541	$31.6396	Acquired	88837	Direct
2021-03-12	Common Stock	F	2708	$80.25	Disposed	86129	Direct
2021-03-12	Common Stock	D	4551	$80.25	Disposed	81578	Direct
2021-03-12	Common Stock	M	13865	$30.58	Acquired	95443	Direct
2021-03-12	Common Stock	F	3839	$80.22	Disposed	91604	Direct
2021-03-12	Common Stock	D	5286	$80.22	Disposed	86318	Direct
2021-03-12	Common Stock	S	9023	$80.1371	Disposed	77295	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-12	Stock Appreciation Rights	$31.6396	M	11541	Disposed	2024-01-27	Common Stock (11541)	Direct
2021-03-12	Stock Appreciation Rights	$30.58	M	13865	Disposed	2025-01-27	Common Stock (13865)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	35940	Indirect

Footnotes

F1: Sale prices ranged from $80.05 to $80.18.

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.