Barth Kevin G Form 4 COMMERCE BANCSHARES / KEVIN G BARTH ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BARTH KEVIN G

(Last) (First) (Middle)

1000 WALNUT ST., 7TH FLOOR

(Street)

KANSAS CITY MO 64106

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COMMERCE BANCSHARES INC /MO/ [ CBSH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
01/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								14,774	I	By Spouse
Common Stock								22,442	I	Exec Comp Plan
Common Stock								46,149	I	401(k)
Common Stock	01/24/2025		M		9,202	A	$38.2618	74,611	D
Common Stock	01/24/2025		M		9,336	A	$41.8947	83,947	D
Common Stock	01/24/2025		F		1,261	D	$65.8542	82,686	D
Common Stock	01/24/2025		F		1,022	D	$65.895	81,664	D
Common Stock	01/24/2025		D		5,347	D	$65.8542	76,317	D
Common Stock	01/24/2025		D		5,936	D	$65.895	70,381	D
Common Stock	01/24/2025		S		24,870	D	$66.0616(1)	45,511	D
Common Stock	01/27/2025		S		1,222	D	$66.6123(2)	44,289	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Rights	$38.2618	01/24/2025		M			9,202	01/31/2018(3)	01/31/2027	Common Stock	9,202	$0	0	D
Stock Appreciation Rights	$41.8947	01/24/2025		M			9,336	01/24/2019(4)	01/24/2028	Common Stock	9,336	$0	0	D

Explanation of Responses:

1. Sale prices ranged from $66.00 to $66.43.

2. Sale prices ranged from $66.14 to $67.20.

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

4. The stock appreciation right vests in four equal annual installments beginning January 24, 2019.

	By Paul A. Steiner For: Kevin G Barth	01/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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