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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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* (Last, First, Middle)		 2. Issuer Name and Ticker or
Trading Symbol		 3. I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)
  Fulton, J. Michael
  Comerica Incorporated (CMA)
 
  Comerica Bank-California
333 W. Santa Clara Street
4. Statement for (Month/Day/Year) 5. If Amendment, Date of Original (Month/Day/Year)
    April 17, 2003
 
  (Street) 6. Relationship of Reporting Person(s) to Issuer (Check All Applicable) 7. Individual or Joint/Group Filing
(Check Applicable Line)
  San Jose, CA 95113
(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)  
         President & CEO, Comerica Bank-California
     
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 Securities
Beneficially Owned
Following Reported
Transactions(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             36,094 (1)     D  
  Common Stock               7,670 (2)     I   by 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          
  Employee Stock Option (Right to Buy)   $40.32     4/17/2003     A   24,700

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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 9,488         9,488     D  
  (4) 4/18/2005   Common Stock 13,500         13,500     D  
  (5) 4/14/2006   Common Stock 12,000         12,000     D  
  (6) 4/20/2007   Common Stock 15,000         15,000     D  
  (7) 3/20/2008   Common Stock 25,000         25,000     D  
  (8) 3/19/2009   Common Stock 25,000         25,000     D  
  (9) 3/17/2010   Common Stock 18,000         18,000     D  
  (10) 5/2/2011   Common Stock 16,200         16,200     D  
  (11) 4/17/2012   Common Stock 25,800         25,800     D  
  (12) 4/17/2013   Common Stock 24,700         24,700     D  

Explanation of Responses:

(1) This number includes shares purchased under the CMA dividend reinvestment plan and shares acquired through employee stock plans as of March 26, 2003.

(2) As of March 26, 2003.

(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.

(12) The option vests in four equal annual installments beginning on January 27, 2004.

Carol H. Rodriguez, on behalf of
J. Michael Fulton 		  4/18/2003
**Signature of Reporting Person		  
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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