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

Feb 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-02-12

Reporting Person: Handy John K (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-12	Common Stock	M	1758	$48.3831	Acquired	44476	Direct
2021-02-12	Common Stock	M	3436	$50.9232	Acquired	47912	Direct
2021-02-12	Common Stock	F	559	$73.61	Disposed	47353	Direct
2021-02-12	Common Stock	D	3534	$73.61	Disposed	43819	Direct
2021-02-16	Common Stock	S	1101	$73.80	Disposed	42718	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-12	Stock Appreciation Rights	$48.3831	M	1758	Disposed	2027-03-02	Common Stock (1758)	Direct
2021-02-12	Stock Appreciation Rights	$50.9232	M	3436	Disposed	2028-01-24	Common Stock (3436)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	789	Indirect
Common Stock	1552	Indirect
Common Stock	2068	Indirect
Common Stock	7959	Indirect

Footnotes

F1: This stock appreciation rights vest in four equal annual installments beginning on March 2, 2018.

F2: The stock appreciation rights vest in four equal annual installments beginning January 24, 2019.