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

Feb 12, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-02-10

Reporting Person: KEMPER DAVID W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-10	Common Stock	M	44166	$46.5074	Acquired	1205830	Direct
2021-02-10	Common Stock	F	6399	$73.61	Disposed	1199431	Direct
2021-02-10	Common Stock	D	27905	$73.61	Disposed	1171526	Direct
2021-02-10	Common Stock	S	9862	$73.50	Disposed	1161664	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-10	Stock Appreciation Rights	$46.5074	M	44166	Disposed	2027-01-31	Common Stock (44166)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14060	Indirect
Common Stock	20762	Indirect
Common Stock	34655	Indirect
Common Stock	18779	Indirect
Common Stock	32664	Indirect
Common Stock	222595	Indirect
Common Stock	14053	Indirect
Common Stock	20754	Indirect

Footnotes

F1: The stock appreciation right vests in four equal annual installments beginning January 31, 2018.