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 *

OBERMEYER PAUL R
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)
Executive Vice President
(Last)          (First)          (Middle)

1717 MAIN STREET, MC 6402
3. Date of Earliest Transaction (MM/DD/YYYY)

1/31/2017
(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   1/31/2017     S    15235   D $67.789   (1) 16627   (2) D  
 
Common Stock                  119   I   By the Paul R. and Cindy S. Obermeyer Revocable Trust  

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)   $39.10                    1/25/2012   (3) 1/25/2021   Common Stock   3000     3000   D  
 
Employee Stock Option (right to buy)   $29.60                    1/24/2013   (3) 1/24/2022   Common Stock   6350     6350   D  
 
Employee Stock Option (right to buy)   $33.79                    1/22/2014   (3) 1/22/2023   Common Stock   3500     3500   D  
 
Employee Stock Option (right to buy)   $49.51                    1/21/2015   (3) 1/21/2024   Common Stock   2979     2979   D  
 
Employee Stock Option (right to buy)   $42.32                    1/27/2016   (3) 1/27/2025   Common Stock   3455     3455   D  
 
Employee Stock Option (right to buy   $32.97                    1/26/2017   (3) 1/26/2026   Common Stock   4025     4025   D  
 
Employee Stock Option (right to buy)   $67.66                    1/24/2018   (3) 1/24/2027   Common Stock   2085     2085   D  
 

Explanation of Responses:
( 1)  The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.55 to $68.08, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.
( 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 January 31, 2017.
( 3)  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
OBERMEYER PAUL R
1717 MAIN STREET, MC 6402
DALLAS, TX 75201


Executive Vice President

Signatures
/s/ Jennifer S. Perry, on behalf of Paul R. Obermeyer through Power of Attorney 2/2/2017
** 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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