Company: CMA
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000028412-25-000135
Chunk: 66

Company: COMERICA INC
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 66
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 to NEOs in January 2024. The SELTPP units vest after December 31, 2026, the end of the three-year performance period, once the attainment of the performance measures has been determined. Performance will be measured on an absolute basis for three-year average SELTPP ROCE and on a relative basis for three-year average ROCE with a modifier applied based on relative TSR performance, with both relative ROCE and TSR performance measured against the KBW Bank Index. Dividend equivalents accumulate throughout the vesting period and are paid out in cash at distribution with the same performance factor applied.

(4) As described in the “Compensation Discussion and Analysis” section above, the maximum stated for each NEO under the SELTPP represents the maximum number of shares that could be earned by each NEO based upon surpassing performance metrics.

(5) Annual RSU grants were made to NEOs in January 2024. Unless an award is forfeited prior to vesting, RSUs vest 50% on the second anniversary of the grant date and vest 25% on each of the third and fourth anniversaries of the grant date. Dividend equivalents accumulate throughout the vesting period and are paid out in cash at distribution.

(6) Annual stock option grants were made to NEOs in January 2024. Option awards have a 10-year term and become exercisable in 25% increments on the first, second, third and fourth anniversaries of the grant date.

| 68 |     | COMERICA INC.                                                               
 PROPOSAL 3: NON-BINDING, ADVISORY PROPOSAL APPROVING EXECUTIVE COMPENSATION |

(7) Equal to the closing price of Comerica common stock per share on the date of grant.

(8) Represents the fair value at grant date of stock options, RSUs and SELTPP units granted to applicable NEOs in 2024. The value of the SELTPP units was calculated by a third-party accounting firm using the fair value at grant date with a percentage of stock price adjustment of 102.6% for market condition, resulting in an assigned fair value of $55.35.

The RSU value is calculated by using the closing stock price on the date of the grant.

The stock option grant value is based on a binomial lattice valuation. The binomial value assigned to the option grants is $17.64.

The following table provides information on stock option, RSU and SELTPP unit grants