Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 86

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 86
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 directors or a duly authorized committee of the board and 6

declared by Comerica, on the first day of January, April, July, and October of each year. Under the terms of the Series A preferred stock, the ability of Comerica to pay dividends on, make
distributions with respect to, or to repurchase, redeem or acquire its Common Stock or any other stock ranking on parity with or junior to the Series A preferred stock, is subject to restrictions in the event that Comerica does not declare and
either pay or set aside a sum sufficient for payment of dividends on the Series A preferred stock for the immediately preceding dividend period. The Series A preferred stock is perpetual and has no maturity date, but is redeemable at specified times
subject to regulatory considerations.

Applicable Anti-Takeover Law

Delaware General Corporation Law section 203 prohibits a Delaware corporation from engaging in a “business combination” (as defined in the Delaware
General Corporation Law) with a person owning 15% or more of a corporation’s voting stock for three years following the time that person becomes a 15% stockholder, with certain exceptions. Comerica has not opted out of § 203 and is
therefore governed by the default terms of this provision of the Delaware General Corporation Law.

The Change in Bank Control Act of 1978, as amended,
prohibits a person or group of persons from acquiring “control” of a bank holding company unless the Federal Reserve Board has been notified and has not objected to the transaction. Under a rebuttable presumption established by the Federal
Reserve Board, the acquisition of 10% or more of a class of voting stock of a bank holding company with a class of securities registered under Section 12 of the Exchange Act, such as Comerica, would, under the circumstances set forth in the
presumption, constitute acquisition of control of the bank holding company.

In addition, a company is required to obtain the approval of the Federal
Reserve Board under the Bank Holding Company Act of 1956 before acquiring 25% (5% in the case of an acquiror that is a bank holding company) or more of any class of outstanding voting stock of a bank holding company, or otherwise obtaining control
or a “controlling influence” over that bank holding company.

DESCRIPTION OF DEPOSITARY SHARES

The following briefly summarizes the material provisions of the deposit agreement and of the depositary shares and depositary receipts, other than
pricing and related terms