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: Kemper John W (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-12	Common Stock	M	12492	$30.58	Acquired	180373	Direct
2021-03-12	Common Stock	F	3475	$80.83	Disposed	176898	Direct
2021-03-12	Common Stock	D	4727	$80.83	Disposed	172171	Direct
2021-03-12	Common Stock	S	4290	$80.1332	Disposed	167881	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-12	Stock Appreciation Rights	$30.58	M	12492	Disposed	2025-01-27	Common Stock (12492)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	222595	Indirect

Footnotes

F1: Sale prices ranged from $79.725 to $80.69.

F2: The stock appreciation rights vest in four equal annual installments beginning January 27, 2016.