FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MICHALAK MICHAEL H
2. Issuer Name and Ticker or Trading Symbol

COMERICA INC /NEW/ [ CMA ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP - Chief Risk Officer
(Last)          (First)          (Middle)

1717 MAIN STREET, MC 6406
3. Date of Earliest Transaction (MM/DD/YYYY)

11/18/2016
(Street)

DALLAS, TX 75201
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(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   11/18/2016     M    5000   A $58.98   42400   (2) D  
 
Common Stock   11/18/2016     F (1)    4910   D $61.04   37490   (2) D  
 
Common Stock   11/21/2016     S    90   D $60.985   37400   (3) D  
 

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy)   $58.98   11/18/2016     M         5000    1/23/2008   (4) 1/23/2017   Common Stock   5000   $0   0   D  
 
Employee Stock Option (right to buy)   $37.45                    1/22/2009   (4) 1/22/2018   Common Stock   7000     7000   D  
 
Employee Stock Option (right to buy)   $17.32                    1/27/2010   (4) 1/27/2019   Common Stock   7000     7000   D  
 
Employee Stock Option (right to buy)   $34.78                    1/26/2011   (4) 1/26/2020   Common Stock   15000     15000   D  
 
Employee Stock Option (right to buy)   $39.10                    1/25/2012   (4) 1/25/2021   Common Stock   8000     8000   D  
 
Employee Stock Option (right to buy)   $29.60                    1/24/2013   (4) 1/24/2022   Common Stock   8000     8000   D  
 
Employee Stock Option (right to buy)   $33.79                    1/22/2014   (4) 1/22/2023   Common Stock   2000     2000   D  
 
Employee Stock Option (right to buy)   $49.51                    1/21/2015   (4) 1/21/2024   Common Stock   1857     1857   D  
 
Employee Stock Option (right to buy)   $42.32                    1/27/2016   (4) 1/27/2025   Common Stock   3500     3500   D  
 
Employee Stock Option (right to buy)   $32.97                    1/26/2017   (4) 1/26/2026   Common Stock   4520     4520   D  
 

Explanation of Responses:
( 1)  Shares were withheld to satisfy tax withholding obligations and pay exercise price.
( 2)  Includes shares acquired through employee stock plans, shares purchased with reinvested dividends and stock units held pursuant to a deferred compensation plan as of November 18, 2016.
( 3)  Includes shares acquired through employee stock plans, shares purchased with reinvested dividends and stock units held pursuant to a deferred compensation plan as of November 21, 2016.
( 4)  The options vest in four equal annual installments (based on the original grant amount) beginning on the date indicated in this column.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MICHALAK MICHAEL H
1717 MAIN STREET
MC 6406
DALLAS, TX 75201


EVP - Chief Risk Officer

Signatures
/s/ Nicole V. Gersch, on behalf of Michael H. Michalak through Power of Attorney 11/22/2016
** Signature of Reporting Person Date


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).
** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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