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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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. Name and Address of Reporting
Person*
2. Issuer Name and Ticker or Trading
Symbol
3. I.R.S. Identification Number of Reporting
Person, if an entity
(Voluntary)
  Elenbaas, Marvin J.
(Last) (First) (Middle)
  Comerica Incorporated (CMA)
 
     
  Comerica Incorporated
411 W. Lafayette

(Street)
4. Statement for Month/Day/Year 5. If Amendment, Date of Original (Month/Day/Year)
    March 14, 2003
 
     
    6. Relationship of Reporting Person(s)
to Issuer
(Check All Applicable)
7. Individual or Joint/Group Filing
(Check Applicable Line)
  Detroit, MI 48275-3415
(City)        (State)        (Zip)
  o  Director o  10% Owner   x Form Filed by One Reporting Person
    x  Officer (give title below)   o Form Filed by More than One Reporting Person
    o  Other (specify below)  
      Senior Vice President & Chief Accounting Officer
     

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).


 

                                               

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
(Instr. 3)
2. Transaction
Date

(Month/Day/Year)
2A. Deemed Execution
Date, if any

(Month/Day/Year)
3. Transaction
Code

(Instr. 8)
4. Securities Acquired (A) or
Disposed of (D)

(Instr. 3, 4 and 5)
5. Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)

(Instr. 3 and 4)
6. Ownership
Form:
Direct (D) or
Indirect (I)

(Instr. 4)
7. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

              Code V   Amount (A)
or
(D)
Price          

  Common Stock   3/14/03     A     1,300 (A)   A       18,239 (1)     D  

  Common Stock                   1,597 (2)     I   401 (k) Plan

                         

                         

                         

                         

                         

                         

                         

                         

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
  (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative
Security

(Instr. 3)
2. Conversion or Exercise
Price of Derivative
Security
3. Transaction
Date

(Month/Day/Year)
3A.  Deemed Execution
Date, if any

(Month/Day/Year)
4. Transaction
Code

(Instr. 8)
5. Number of Derivative Securities
Acquired (A) or Disposed of (D)

(Instr. 3, 4 and 5)

                      Code V   (A) (D)

  Employee Stock Option (Right to Buy)     $18.00          

  Employee Stock Option (Right to Buy)     $18.59          

  Employee Stock Option (Right to Buy)     $25.42          

  Employee Stock Option (Right to Buy)     $40.25          

  Employee Stock Option (Right to Buy)     $71.58          

  Employee Stock Option (Right to Buy)     $66.81          

  Employee Stock Option (Right to Buy)     $41.50          

  Employee Stock Option (Right to Buy)     $51.43          

  Employee Stock Option (Right to Buy)     $63.20          

               

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

6. Date Exercisable and
Expiration Date

(Month/Day/Year)
7. Title and Amount
of Underlying Securities

(Instr. 3 and 4)
8. Price of Derivative
Security

(Instr. 5)
9. Number of Derivative Securities
Beneficially Owned Following
Reported Transaction(s)

(Instr. 4)
10. Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)

(Instr. 4)
11. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

  Date
Exercisable
Expiration
Date
  Title Amount or
Number of
Shares
                       

  (3) 4/19/2004   Common Stock 2,700           2,700     D  

  (4) 4/18/2005   Common Stock 3,600           3,600     D  

  (5) 4/14/2006   Common Stock 3,450           3,450     D  

  (6) 4/20/2007   Common Stock 3,600           3,600     D  

  (7) 3/20/2008   Common Stock 5,500           5,500     D  

  (8) 3/19/2009   Common Stock 5,950           5,950     D  

  (9) 3/17/2010   Common Stock 5,950           5,950     D  

  (10) 4/30/2011   Common Stock 5,324           5,324     D  

  (11) 4/17/2012   Common Stock 6,400           6,400     D  

                   

Explanation of Responses:

(A) Shares acquired under the Company’s long term incentive plan. 50% of the shares will vest on March 14, 2006, 25% of the shares will vest on March 14, 2007, and the remaining 25% will vest on March 14, 2008.

(1) This number includes shares purchased under the CMA dividend reinvestment plan and shares acquired through employee stock plans as of December 31, 2002.

(2) As of December 31, 2002.

(3) The option vests in four equal annual installments beginning on January 20, 1995.

(4) The option vests in four equal annual installments beginning on January 19, 1996.

(5) The option vests in four equal annual installments beginning on January 17, 1997.

(6) The option vests in four equal annual installments beginning on January 20, 1998.

(7) The option vests in four equal annual installments beginning on January 15, 1999.

(8) The option vests in four equal annual installments beginning on January 14, 2000.

(9) The option vests in four equal annual installments beginning on January 19, 2001.

(10) The option vests in four equal annual installments beginning on January 22, 2002.

(11) The option vests in four equal annual installments beginning on January 21, 2003.

/s/ Carol H. Rodriguez   March 17, 2003

**Signature of Reporting Person
Carol H. Rodriguez, on behalf of Marvin J. Elenbaas
 
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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