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

Feb 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2021-02-08

Reporting Person: BARTH KEVIN G (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-08	Common Stock	M	13865	$30.58	Acquired	71761	Direct
2021-02-08	Common Stock	F	2684	$71.82	Disposed	69077	Direct
2021-02-08	Common Stock	D	5904	$71.82	Disposed	63173	Direct
2021-02-08	Common Stock	M	13778	$30.8553	Acquired	76951	Direct
2021-02-08	Common Stock	F	3595	$71.81	Disposed	73356	Direct
2021-02-08	Common Stock	D	5921	$71.81	Disposed	67435	Direct
2021-02-08	Common Stock	S	9539	$71.6381	Disposed	57896	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-08	Stock Appreciation Rights	$30.58	M	13865	Disposed	2025-01-27	Common Stock (13865)	Direct
2021-02-08	Stock Appreciation Rights	$30.8553	M	13778	Disposed	2026-01-27	Common Stock (13778)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	33097	Indirect
Common Stock	12156	Indirect
Common Stock	17229	Indirect

Footnotes

F1: Sale prices ranged from $71.56 to $71.75.

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

F3: The stock appreciation rights vest in four equal annual installments beginning January 27, 2017.