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Comerica Executive Compensation (FY24)

CMA · Executive and director compensation, fiscal 2022 to 2024
Data as of September 5, 2026Latest filing (8-K): April 30, 2025
357 figures on this page: 349 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
Curtis Farmer was paid $8,864,041 in total compensation as Chairman, President and Chief Executive Officer for fiscal 2024, and Farmer's total was 14.8% higher than the $7,719,674 reported for fiscal 2023. Meanwhile, the disclosed chief executive pay ratio for fiscal 2024 is 81:1, against median employee compensation of $109,658. Separately, the say-on-pay proposal drew 92.0% of votes cast including abstentions in favor at the meeting held April 29, 2025 for fiscal 2024, and companies named in the disclosed peer group include BOK Financial Corp., Citizens Financial Group, Inc., Cullen/Frost Bankers, Inc., Fifth Third Bancorp and First Horizon National Corp., among others.
Chief executive, fiscal 2024
◇
Curtis Farmer
Latest say-on-pay support
=
April 29, 2025
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Curtis Farmer: $7,719,674 → $8,864,041 (14.8% higher)
Say-on-pay support: 93.9% → 92.0% (1.9 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Comerica's chief executive and what were they paid?
Curtis Farmer was paid $8,864,041 in total compensation as Chairman, President and Chief Executive Officer for fiscal 2024. Farmer's total was 14.8% higher than the $7,719,674 reported for fiscal 2023.
What was Comerica's say-on-pay result?
The say-on-pay proposal drew 92.0% of votes cast including abstentions in favor at the meeting held April 29, 2025 for fiscal 2024.
Which companies are in Comerica's peer group?
Companies named in the disclosed peer group include BOK Financial Corp., Citizens Financial Group, Inc., Cullen/Frost Bankers, Inc., Fifth Third Bancorp and First Horizon National Corp., among others.
What is Comerica's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2024 is 81:1, against median employee compensation of $109,658.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Curtis Farmer
Chairman, President and Chief Executive Officer
◇—◇◇◇◇◇◇
James Herzog
Senior Executive Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Peter Sefzik
Senior Executive Vice President and Chief Banking Officer
◇—◇◇◇—◇◇
Megan Crespi
Senior Executive Vice President and Chief Operating Officer
◇—◇◇◇◇◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Curtis Farmer
Chairman, President and Chief Executive Officer
◇—◇◇◇◇◇◇
James Herzog
Senior Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Peter Sefzik
Senior Executive Vice President and Chief Banking Officer
◇—◇◇◇◇◇◇
Megan Crespi
Senior Executive Vice President and Chief Operating Officer
◇—◇◇◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Curtis Farmer
Chairman, President and Chief Executive Officer
◇—◇◇◇◇◇◇
Brian Goldman
Senior Executive Vice President and Chief Risk Officer
◇◇◇◇◇—◇◇
James Herzog
Senior Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Peter Sefzik
Senior Executive Vice President and Chief Banking Officer
◇—◇◇◇◇◇◇
Megan Crespi
Senior Executive Vice President and Chief Operating Officer
◇—◇◇◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Brian S. GoldmanPSU◇◇◇—◇—◇
Brian S. GoldmanRSU◇——◇——◇
Brian S. GoldmanOPTION◇——◇—◇◇
Curtis C. FarmerPSU◇◇◇—◇—◇
Curtis C. FarmerOPTION◇——◇—◇◇
Curtis C. FarmerRSU◇——◇——◇
James J. HerzogRSU◇——◇——◇
James J. HerzogPSU◇◇◇—◇—◇
James J. HerzogOPTION◇——◇—◇◇
Megan D. CrespiOPTION◇——◇—◇◇
Megan D. CrespiPSU◇◇◇—◇—◇
Megan D. CrespiRSU◇——◇——◇
Peter L. SefzikPSU◇◇◇—◇—◇
Peter L. SefzikRSU◇——◇——◇
Peter L. SefzikOPTION◇——◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Curtis FarmerOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
James HerzogOption◇—◇—
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
Option◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
RSU◇◇——
RSU◇◇——
Megan CrespiRSU◇◇——
RSU◇◇——
PSU◇◇——
Option◇—◇—
PSU◇◇——
Option◇—◇—
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Peter SefzikOption◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Brian GoldmanRSU◇◇——
PSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Roger A. Cregg
◇◇————◇
Arthur G. Angulo
◇◇————◇
Barbara R. Smith
Lead independent director
◇◇————◇
Michael G. Van de Ven
◇◇————◇
Derek J. Kerr
◇◇————◇
Richard G. Lindner
◇◇————◇
Robert S. Taubman
◇◇————◇
Nancy Avila
◇◇————◇
Nina G. Vaca
◇◇————◇
Jennifer H. Sampson
◇◇————◇
M. Alan Gardner
◇◇————◇
Curtis C. Farmer served on the board in fiscal 2024 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5,000 shares

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • BOK Financial Corp. BOKF
  • Citizens Financial Group, Inc. CFG
  • Cullen/Frost Bankers, Inc. CFR
  • Fifth Third Bancorp FITB
  • First Horizon National Corp. FHN
  • Huntington Bancshares Inc. HBAN
  • KeyCorp KEY
  • M&T Bank Corp. MTB
  • Regions Financial Corp. RF
  • Synovus Financial Corporation SNV
  • Webster Financial Corporation WBS
  • Western Alliance Bancorporation WAL
  • Zions Bancorporation ZION

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2024April 29, 2025=◇◇◇
2023April 23, 2024=◇◇◇
2022April 25, 2023=◇◇◇
2021April 26, 2022=◇◇◇
2020April 27, 2021=◇◇◇
2019April 28, 2020=◇◇◇
2018April 23, 2019=◇◇◇
2017April 24, 2018=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Comerica disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Comerica sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
357 figures on this page: 349 cited to the filing that reported them, 8 calculated from figures it prints.
349 cited to the filing
8 calculated from the filing

Documents cited

  1. 0000028412-25-000156
  2. 0000028412-25-000135
    2024 DIRECTOR COMPENSATION TABLE · CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · and 3 more sections
  3. 0000028412-24-000264
  4. 0000028412-24-000226
    Summary Compensation Table
  5. 0000028412-23-000161
  6. 0000028412-23-000142
    Summary Compensation Table
  7. 0000028412-22-000098
  8. 0000028412-21-000102
  9. 0000028412-20-000070
  10. 0000028412-19-000070
  11. 0000028412-18-000104
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Velarion, “Comerica executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/CMA (accessed 2026).
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Comerica discloses

The companies named in CMA's own disclosed peer group.

BOK Financial Corp.Citizens Financial Group, Inc.Cullen/Frost Bankers, Inc.Fifth Third BancorpFirst Horizon National Corp.Huntington Bancshares Inc.KeyCorpM&T Bank Corp.Regions Financial Corp.Synovus Financial CorporationWebster Financial CorporationWestern Alliance BancorporationZions Bancorporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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