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

Feb 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-02-11

Reporting Person: Holmes Robert S (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-11	Common Stock	M	4514	$30.8553	Acquired	45504	Direct
2021-02-11	Common Stock	F	771	$72.45	Disposed	44733	Direct
2021-02-11	Common Stock	D	1923	$72.45	Disposed	42810	Direct
2021-02-11	Common Stock	M	2182	$31.3784	Acquired	44992	Direct
2021-02-11	Common Stock	F	368	$72.4925	Disposed	44624	Direct
2021-02-11	Common Stock	D	945	$72.4925	Disposed	43679	Direct
2021-02-11	Common Stock	S	6234	$72.3451	Disposed	37445	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-11	Stock Appreciation Rights	$30.8553	M	4514	Disposed	2026-01-27	Common Stock (4514)	Direct
2021-02-11	Stock Appreciation Rights	$31.3784	M	2182	Disposed	2025-04-01	Common Stock (2182)	Direct

Footnotes

F1: Sale prices ranged from $72.20 to $72.455.

F2: The stock appreciation rights vest in four equal annual installments beginning January 27, 2017.

F3: The stock appreciation right vests in four equal annual installments beginning April 1, 2016.