Company: CMA
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000028412-25-000135
Chunk: 86

Company: COMERICA INC
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 86
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 performance measures used by Comerica to link executive compensation actually paid to Comerica’s NEOs, for the most recently completed fiscal year, to Comerica’s performance are as follows:

• MIP EPS

• MIP Efficiency Ratio

• SELTPP ROCE

• ROCE

• Strategic Initiatives

• Relative TSR (the Company’s TSR as compared to a peer group established by the Governance, Compensation and Nominating Committee)

Analysis of the Information Presented in the Pay Versus Performance Table

As described in more detail in the section “Compensation Discussion and Analysis,” Comerica’s executive compensation program reflects a variable pay-for-performance philosophy. While Comerica utilizes several performance measures to align executive compensation with its performance, not all of those measures are presented in the Pay Versus Performance table. Moreover, Comerica generally seeks to incentivize long-term performance, and therefore does not specifically align performance measures with "compensation actually paid" (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K, Comerica is providing the following descriptions of the relationships between "compensation actually paid" and the financial performance measures presented in the Pay Versus Performance table.

#### PAY VERSUS PERFORMANCE81

#### "Compensation Actually Paid" and Cumulative TSR
As demonstrated by the following graph, the amount of "compensation actually paid" to Mr. Farmer and the average amount of "compensation actually paid" to Comerica’s NEOs as a group (excluding Mr. Farmer) are aligned with Comerica’s cumulative TSR over the five years presented in the table. "Compensation actually paid" is aligned with cumulative TSR over the period because a significant portion of the "compensation actually paid" to Mr. Farmer and to the other NEOs is comprised of equity awards. As described in more detail in the section “Compensation Discussion and Analysis,” Comerica aims for approximately 65% of the value of total compensation awarded to the NEOs to be comprised of equity awards, including RSUs, performance-based SELTPP units and stock options.

| "COMPENSATION ACTUALLY PAID" VS. COMPANY TSR |

| ¢ |     | PEO |     | ¢ | Average for Non-PEO NEOs |     | TSR |

#### 82COMERICA INC.PAY VERSUS PERFORMANCE

#### "Compensation Actually Paid" and Net Income
The