COMERICA INC — Director's Dealing 2003

Apr 22, 2003

4 1 k76326oe4.htm STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Statement of Changes in Beneficial Ownership PAGEBREAK

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

o Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b)

1.	2.	Issuer Name and Ticker or Trading Symbol				I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
Cordes, James F.		Comerica Incorporated (CMA)
3531 Brookhaven	4.	Statement for (Month/Day/Year)			5.	If Amendment, Date of Original (Month/Day/Year)
		April 21, 2003
(Street)	6.	Relationship of Reporting Person(s) to Issuer (Check All Applicable)			7.	Individual or Joint/Group Filing (Check Applicable Line)
Montgomery, TX 77356 (City) (State) (Zip)		x	Director	o	10% Owner	x	Form filed by One Reporting Person
		o	Officer (give title below)			o	Form filed by More than One Reporting Person
		o	Other (specify below)

Reminder:	Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see instruction 4(b)(v).

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Title of Security (Instr. 3)	Transaction Date (Month/Day/Year)	Transaction Code (Instr. 8)	4.	Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		5.	Amount of Securities Beneficially Owned Following Reported Transactions(s) (Instr. 3 and 4)	Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
		Code	V	Amount	(A) or (D)	Price
Common Stock	4/21/2003	J		497 (1)	A	$40.22	44,037	D (2)

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Title of Derivative Security (Instr. 3)	Conversion or Exercise Price of Derivative Security	Transaction Code (Instr. 8)	5.	Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
		Code	V	(A)	(D)
Director Stock Option
(Right to Buy)	$40.09
Director Stock Option
(Right to Buy)	$65.13
Director Stock Option
(Right to Buy)	$62.75
Director Stock Option
(Right to Buy)	$44.13
Director Stock Option
(Right to Buy)	$57.15
Director Stock Option
(Right to Buy)	$64.50

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Date Exercisable and Expiration Date (Month/Day/Year)	7.	Title and Amount of Underlying Securities (Instr. 3 and 4)	8.	Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
Date Exercisable	Expiration Date	Title	Amount or Number of Shares
5/16/1998	5/16/2007	Common Stock	1,500	1,500	D
5/14/1999	5/15/2008	Common Stock	1,500	1,500	D
5/21/2000	5/21/2009	Common Stock	1,500	1,500	D
5/18/2001	5/19/2010	Common Stock	2,000	2,000	D
5/22/2002	5/22/2011	Common Stock	2,500	2,500	D
5/21/2003	5/21/2012	Common Stock	2,500	2,500	D

Explanation of Responses:

(1) Shares acquired on the director's behalf with deferred directors fees pursuant to the Corporation's deferred director plans as of April 21, 2003.

(2) Includes shares owned pursuant to deferred director plans and purchased with reinvested dividends as of April 21, 2003.

Carol H. Rodriguez, on behalf of James F. Cordes	4/21/2003
**Signature of Reporting Person	Date

**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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