Company: CMA
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000028412-25-000135
Chunk: 79

Company: COMERICA INC
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 79
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 based on the closing price of Comerica common stock as of December 31, 2024. Unvested options would be forfeited, but vested options would continue to be exercisable for the earlier of the option term or one year; no value for the options is included in the table.

• Proceeds of life insurance of $1,075,000 and $675,000 for Mr. Farmer and Mr. Herzog, respectively, which would be paid by Comerica’s life insurance provider.

• Three months of COBRA for family members based on each NEO’s 2024 elections for Comerica’s medical, dental and vision plan coverage, assuming that premiums will remain at December 31, 2024 levels.

(5) Mr. Farmer and Mr. Herzog are eligible for early retirement under the RIA and SRIA. Because these benefits are already accrued and fully vested, they are already reflected in the Pension Benefits at Fiscal Year-End 2024 Table on page 72and do not represent additional expense to Comerica. However, Mr. Herzog’s disability benefit would exceed the present value of his accumulated benefit by $308,208, and such amount is included above.

(6) Does not include payments of deferred compensation, which are reflected in the 2024 Nonqualified Deferred Compensation Table.

(7) If Mr. Farmer had retired or become disabled on December 31, 2024, no acceleration of stock options, RSUs or SELTPP units would have occurred pursuant to the applicable award agreements; however, the awards would have continued to vest on the terms, including any performance conditions, in effect prior to retirement or disability, and vested options would have continued to be exercisable until their expiration date. The fair market value of the unvested stock options, RSUs and SELTPP units that would have continued to vest was $14,055,002 at December 31, 2024, using actual achievement of 135.0% for 2022 SELTPP grants; this value is not included in the table.

(8) If Mr. Herzog had retired or become disabled on December 31, 2024, no acceleration of stock options, RSUs or SELTPP units would have occurred pursuant to the applicable award agreements; however, the awards would have continued to vest on the terms, including any performance conditions, in effect prior to retirement or disability, and vested options would have continued to be exercisable until their expiration date.