COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2024

Feb 2, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2024-01-31

Reporting Person: Neff Douglas D (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-01-31	Common Stock	A	2257	—	Acquired	9087	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-01-31	Stock Appreciation Rights	$52.12	A	3894	Acquired	2034-01-31	Common Stock (3894)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	623	Indirect

Footnotes

F1: All stock holding balances adjusted to include a 5% stock dividend. Record date of 12/4/2023, payable 12/19/2023.

F2: The stock appreciation right vests in four equal annual installments beginning on January 31, 2025.