Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 20

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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, 20251,761 10,990 1,761 56.77 June 1 - 30, 2025— 10,990 — — Total second quarter 20251,761 10,990 1,763 56.77 Total 2025 through June 30, 20252,508 10,990 2,518 59.49 

(a)Maximum number of shares of common stock that may be repurchased under the publicly announced plans or programs.

(b)Consists of approximately 10,000 shares of common stock purchased related to deferred compensation plans during the six months ended June 30, 2025 and is not considered part of the Corporation's repurchase program.

In July 2025, the Corporation announced that it intended to repurchase $100 million of common stock during the third quarter of 2025, and on July 22, the Corporation entered into an Accelerated Share Repurchase transaction (ASR) to repurchase $100 million of common stock. Under the terms of the ASR, the Corporation received an initial delivery of common shares representing approximately 80% of the expected total to be repurchased. Subject to certain adjustments pursuant to the ASR, the final number of shares repurchased and delivered under the ASR will be based on the volume weighted average share price of Comerica’s common stock during the term of the transaction, which is expected to be completed in the third quarter of 2025.

Since the inception of the share repurchase program on November 16, 2010, a total of 107.2 million shares of common stock have been authorized for repurchase. There is no expiration date for the share repurchase program, which may be effectuated through open market repurchases, privately negotiated transactions, structured repurchase agreements with third parties and/or otherwise, including utilizing Rule 10b5-1 plans. The repurchased shares may be held as treasury stock or retired. The timing and actual amount of additional share repurchases are subject to various factors, including the Corporation's earnings generation, capital needs to fund future loan growth and market conditions.

The Corporation has a long-term Common Equity Tier 1 (CET1) capital ratio target of approximately 10% with capital deployment. At June 30, 2025, the Corporation's estimated CET1 capital ratio was 11.94%, up from 11.89% at December 31, 2024.

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