COMMERCE BANCSHARES INC

Ticker: CBSH CUSIP: 200525103 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q1 2020

Shares 19,464 Value ($000) $980 Avg Close $44.86 Range $32.28 - $50.80

Q4 2019

Shares 20,144 Value ($000) $1,369 Avg Close $45.53 Range $40.31 - $48.49

Q3 2019

Shares 18,123 Value ($000) $1,099 Avg Close $41.15 Range $38.28 - $43.51

Q2 2019

Shares 18,253 Value ($000) $1,089 Avg Close $41.43 Range $39.66 - $43.21

Q1 2019

Shares 18,093 Value ($000) $1,050 Avg Close $41.87 Range $38.62 - $44.45

Q4 2018

Shares 23,664 Value ($000) $1,334 Avg Close $41.75 Range $37.08 - $44.76

Q2 2018

Shares 21,987 Value ($000) $1,423 Avg Close $42.06 Range $37.87 - $44.27

Q1 2018

Shares 29,177 Value ($000) $1,748 Avg Close $38.29 Range $35.75 - $40.49

Q4 2017

Shares 28,447 Value ($000) $1,589 Avg Close $36.94 Range $35.36 - $38.20

Q3 2017

Shares 27,043 Value ($000) $1,562 Avg Close $36.44 Range $33.70 - $38.30

Q2 2017

Shares 33,733 Value ($000) $1,917 Avg Close $35.70 Range $33.50 - $37.46

Q1 2017

Shares 40,423 Value ($000) $2,270 Avg Close $36.74 Range $34.22 - $38.88

Q4 2016

Shares 41,673 Value ($000) $2,409 Avg Close $34.52 Range $30.44 - $37.99

Q3 2016

Shares 37,303 Value ($000) $1,838 Avg Close $30.95 Range $29.09 - $32.78

Q2 2016

Shares 36,763 Value ($000) $1,761 Avg Close $29.79 Range $27.21 - $31.28

Q1 2016

Shares 27,743 Value ($000) $1,247 Avg Close $26.60 Range $23.59 - $29.10

Q4 2015

Shares 27,024 Value ($000) $1,150 Avg Close $27.58 Range $25.96 - $29.68

Q3 2015

Shares 26,750 Value ($000) $1,219 Avg Close $27.31 Range $25.22 - $28.93

Q2 2015

Shares 26,210 Value ($000) $1,226 Avg Close $26.27 Range $24.55 - $28.52

Q1 2015

Shares 25,100 Value ($000) $1,062 Avg Close $24.60 Range $23.24 - $25.84

Q4 2014

Shares 26,890 Value ($000) $1,169 Avg Close $24.97 Range $22.29 - $26.05

Q3 2014

Shares 23,000 Value ($000) $1,027 Avg Close $25.44 Range $24.59 - $26.46

Q2 2014

Shares 22,500 Value ($000) $1,046 Avg Close $24.54 Range $23.22 - $26.18

Q1 2014

Shares 22,500 Value ($000) $1,044 Avg Close $24.53 Range $22.87 - $26.10

Q4 2013

Shares 22,100 Value ($000) $993 Avg Close $24.09 Range $22.29 - $25.01

Q3 2013

Shares 12,700 Value ($000) $556 Avg Close $23.25 Range $21.81 - $24.60

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	19,464	$980	$44.86	$32.28 - $50.80
Q4 2019	20,144	$1,369	$45.53	$40.31 - $48.49
Q3 2019	18,123	$1,099	$41.15	$38.28 - $43.51
Q2 2019	18,253	$1,089	$41.43	$39.66 - $43.21
Q1 2019	18,093	$1,050	$41.87	$38.62 - $44.45
Q4 2018	23,664	$1,334	$41.75	$37.08 - $44.76
Q2 2018	21,987	$1,423	$42.06	$37.87 - $44.27
Q1 2018	29,177	$1,748	$38.29	$35.75 - $40.49
Q4 2017	28,447	$1,589	$36.94	$35.36 - $38.20
Q3 2017	27,043	$1,562	$36.44	$33.70 - $38.30
Q2 2017	33,733	$1,917	$35.70	$33.50 - $37.46
Q1 2017	40,423	$2,270	$36.74	$34.22 - $38.88
Q4 2016	41,673	$2,409	$34.52	$30.44 - $37.99
Q3 2016	37,303	$1,838	$30.95	$29.09 - $32.78
Q2 2016	36,763	$1,761	$29.79	$27.21 - $31.28
Q1 2016	27,743	$1,247	$26.60	$23.59 - $29.10
Q4 2015	27,024	$1,150	$27.58	$25.96 - $29.68
Q3 2015	26,750	$1,219	$27.31	$25.22 - $28.93
Q2 2015	26,210	$1,226	$26.27	$24.55 - $28.52
Q1 2015	25,100	$1,062	$24.60	$23.24 - $25.84
Q4 2014	26,890	$1,169	$24.97	$22.29 - $26.05
Q3 2014	23,000	$1,027	$25.44	$24.59 - $26.46
Q2 2014	22,500	$1,046	$24.54	$23.22 - $26.18
Q1 2014	22,500	$1,044	$24.53	$22.87 - $26.10
Q4 2013	22,100	$993	$24.09	$22.29 - $25.01
Q3 2013	12,700	$556	$23.25	$21.81 - $24.60