Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 390

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 390
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 available for the payment of dividends under Ohio law, non-cumulative cash dividends based on the Liquidation
Preference of the Series M Preferred Stock at a rate equal to:

(i) From the date of original issue to, but excluding, the First Reset
Date, a fixed rate per annum of 6.875%; and

(ii) From, and including, the First Reset Date, during each Reset Period, a rate per annum
equal to the Five-Year Treasury Rate as of the most recent Reset Determination Date plus 3.125%.

(b) If declared by the Board of
Directors or an Authorized Committee, dividends will be payable, in arrears, on the Series M Preferred Stock Dividend Payment Date. If any date on which dividends would otherwise be payable is not a Business Day, then such date will nevertheless be
a Series M Dividend Payment Date, but dividends on the Series M Preferred Stock, when, as and if declared, will be paid on the next succeeding Business Day (without adjustment in the amount of the dividend per share of Series M Preferred Stock).

(c) Dividends will be payable to holders of record of Series M Preferred Stock as they appear on the Corporation’s stock register
at 5:00 p.m., New York City time, on the applicable record date, which shall be the 15th calendar day before the applicable Series M Dividend Payment Date, or such other record date, not exceeding 30 days before the applicable Series M Dividend
Payment Date, as shall be fixed by the Board of Directors or an Authorized Committee.

(d) Dividends payable on the Series M Preferred
Stock for any Series M Dividend Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dollar amounts resulting from that calculation
will be rounded to the nearest cent, with one-half cent being rounded upwards. Dividends on the Series M Preferred Stock will cease to accrue on the redemption date, if any, as described in Section 6,
unless the Corporation defaults in the payment of the Redemption Price of the shares of the Series M Preferred Stock called for redemption.

(e) Dividends on the Series M Preferred Stock will not be cumulative and will not be mandatory. If the Board of Directors or an Authorized
Committee does not declare a dividend on the Series M Preferred Stock in respect of a Series M Dividend Period, then no dividend shall be deemed to have accrued for such Series M Dividend Period, be payable on the