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

Feb 22, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-02-19

Reporting Person: Orf David L (Exec. Vice President & CCO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-19	Common Stock	M	1587	$34.4046	Acquired	13851	Direct
2021-02-19	Common Stock	F	257	$74.08	Disposed	13594	Direct
2021-02-19	Common Stock	D	738	$74.08	Disposed	12856	Direct
2021-02-19	Common Stock	S	592	$74.071	Disposed	12264	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Stock Appreciation Rights	$34.4046	M	1587	Disposed	2026-03-01	Common Stock (1587)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13734	Indirect

Footnotes

F1: The stock appreciation rights vest in four equal annual installments beginning on March 1, 2017.