COMERICA INC — Director's Dealing 2011

Feb 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMERICA INC /NEW/ (CMA)
CIK: 0000028412
Period of Report: 2011-02-05

Reporting Person: FARMER CURTIS C (EVP/Wealth & Inst. Mgmt.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-05	Common Stock	M	10936	—	Acquired	51083	Direct
2011-02-05	Common Stock	D	10936	$38.60	Disposed	40147	Direct
2011-02-07	Common Stock	M	6250	$21.95	Acquired	46397	Direct
2011-02-07	Common Stock	M	4575	$17.32	Acquired	50972	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-07	Employee Stock Option (right to buy)	$21.95	M	6250	Disposed	2018-11-14	Common Stock (6250)	Direct
2011-02-07	Employee Stock Option (right to buy)	$17.32	M	4575	Disposed	2019-01-27	Common Stock (4575)	Direct
2011-02-05	Phantom Stock Units	$	M	10936	Disposed	2011-02-05	Common Stock (10936)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$39.16	2020-07-27	Common Stock (21000)	21000	Direct
Employee Stock Option (right to buy)	$39.10	2021-01-25	Common Stock (22000)	22000	Direct

Footnotes

F1: Each share of phantom stock was the economic equivalent of one share of Comerica Incorporated common stock. The shares of phantom stock were settled for cash.

F2: Includes shares acquired through employee stock plans as of February 4, 2011.

F3: The options vest in four equal annual installments beginning on the date indicated in this column.

F4: The expiration date has been adjusted to rectify a typographical error that previously stated the option expired on January 14, 2018.

F5: The phantom stock units represent a portion of the reporting person's base salary.

F6: Phantom stock units will be settled in cash on the earlier to occur of February 5, 2011 or the reporting person's death.