Sundar PichaiSundar Pichai earned $164M in 2023

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...

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Curtis C. Farmer

CEO of Comerica

Education

Bachelor's degree from the University of Michigan.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1963 - 62 years ago

CEO of Comerica for

6 years 2 months (Apr 2019 - Present)

Previous Experience

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

Holdings

See how much did Curtis C. Farmer make over time.

Curtis C. Farmer's holdings have fluctuated significantly over the years. In November 2019, his holdings were valued at $7.65 million. This value showed a consistent upward trend, peaking at $17.93 million in February 2022, which illustrated a strong confidence in...

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Total Stock Sold

$7.03M

CMA

$7.03M

101,276 CMA shares

What if they kept their stock?

If Curtis C. Farmer didn't sell their stock, today they would have:
Extra CMA101,276 shares worth $3.63M.
This is -48.41% and $3.40M less than what they got when they sold the stock.

Charitable Transactions

CMA

7,200 shares

CMA

Recent Charitable Transactions

CMA

7,200 shares

CMA

Nov 16, 2022

Charity

Insider Trading

See recent insider trades of Curtis C. Farmer.

CMA

55,950 shares

CMA

Feb 26, 2024

Received

CMA

$1.58M

CMA at $53.96/share

Jan 23, 2024

Received

CMA

36,360 shares

CMA

Feb 28, 2023

Received

CMA

21,080 shares

CMA

Jan 24, 2023

Received

CMA

7,200 shares

CMA

Nov 16, 2022

Charity

CMA

13,610 shares

CMA

Jan 25, 2022

Received

CMA

11,463 shares

CMA

Feb 23, 2021

Received

CMA

18,650 shares

CMA

Jan 26, 2021

Received

Compensation History

See how much did Curtis C. Farmer make over time.

In 2023, Curtis C. Farmer's total compensation was $7,719,674. His base salary was $1,075,173, but he received no cash bonus due to not meeting performance targets. His compensation package included $3,890,912 from vested stocks, 55,458 restricted stock units, highlighting substantial investments in the company. Additionally, he was granted 24,400 stock options with an exercise price of $71.16, indicating potential future earnings tied to the company's stock performance. In previous years, Farmer saw a significant increase in incentive-based pay, with 2022 showing a cash bonus of $3.15 million as targets were met. This shows a clear emphasis on performance-driven rewards at Comerica, meaning Farmer's compensation reflects his commitment to the company's success.

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.

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