Curtis C. Farmer is the CEO of Comerica Incorporated, a role he has held since April 2019 after successfully leading departments like Wealth Management and the Retail Bank. With a solid educational background from the University of Michigan and expertise...

Number of Employees

7.86K

Year

2023

Total Compensation

$5.02M

Salary

$1.08M

Board Justification

Comerica's compensation philosophy aims to align executive compensation with performance, focusing on attracting, retaining, and motivating top talent while managing risk and promoting long-term shareholder value.

Bonus

$0.00

Board Justification

No cash bonus was awarded for 2023 as the performance metrics did not meet the target levels.

Other

$58.22K

Board Justification

Includes financial planning, security, and limited personal use of corporate aircraft, among other benefits.

Restricted Stock

$3.89M(55.46K RSU)

Board Justification

55,458 RSUs vested in 2023, with a total value of $3,890,912 based on the closing market price on the vesting dates.

Performance Metrics

Performance metrics for 2023 included MIP EPS and MIP Efficiency Ratio, which were not met to the target level, resulting in a funding of 73.6% for the annual incentive plan.

SEC Filing

From March 11, 2024

Curtis C. Farmer

CEO of Comerica

C

Education

Bachelor's degree from the University of Michigan.

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1963 - 62 years ago

Is Founder?

No

Current Tenure

5 years 8 months (Apr 2019 - Present)

Previous Experience

President of Comerica and Comerica Bank, Vice Chairman, and Executive Vice President at Comerica.