X0306 4 2020-01-28 0000022356 COMMERCE BANCSHARES INC /MO/ CBSH 0001666933 Kellerhals Patricia R 8000 FORSYTH BLVD ST. LOUIS MO 63105 1 Senior Vice President Common Stock 2020-01-28 4 M 0 502 57.7714 A 6935 D Common Stock 2020-01-28 4 M 0 409 53.4694 A 7344 D Common Stock 2020-01-28 4 D 0 752 67.75 D 6592 D Common Stock 2020-01-28 4 F 0 56 67.75 D 6536 D Common Stock 2020-01-28 4 S 0 103 67.598 D 6433 D Common Stock 23834 I 401(k) Stock Appreciation Rights 57.7714 2020-01-28 4 M 0 502 0 D 2020-01-23 2029-01-23 Common Stock 502 1511 D Stock Appreciation Rights 53.4694 2020-01-28 4 M 0 409 0 D 2019-01-24 2028-01-24 Common Stock 409 820 D All stock holding balances adjusted to include a 5% stock dividend. Record date 12/3/2019, payable 12/18/2019. The stock appreciation right vests in four equal annual installments beginning January 23, 2020. The stock appreciation right vests in four equal annual installments beginning January 24, 2019. /s/ Paul A. Steiner for Patricia R. Kellerhals 2020-01-30