Comerica CEO Curtis Farmer's 2021 pay jumps 53% to $7.7M
Comerica reports 2021 executive compensation
By ExecPay News
Published: March 15, 2022
Comerica reported fiscal year 2021 executive compensation information on March 15, 2022.
In 2021, five Comerica executives received on average a compensation package of $3.5M, a 55% increase compared to previous year.
Average pay of disclosed executives at Comerica
Curtis C. Farmer, Chief Executive Officer, received $7.7M in total, which increased by 53% compared to 2020. 45% of Farmer's compensation, or $3.4M, was in stock awards. Farmer also received $115K of change in pension value and nonqualified deferred compensation earnings, $2.7M in non-equity incentive plan, $375K in option awards, $1M in salary, as well as $19K in other compensation.
For fiscal year 2021, the median employee pay was $102,385 at Comerica. Therefore, the ratio of Curtis C. Farmer's pay to the median employee pay was 75 to one.
James J. Herzog, Chief Financial Officer, received a compensation package of $2.7M, which increased by 35% compared to previous year. 38% of the compensation package, or $1M, was in non-equity incentive plan.
John D. Buchanan, Chief Legal Officer, earned $2.7M in 2021, a 51% increase compared to previous year.
Peter L. Sefzik, Executive Vice President, Commercial Bank, received $2.4M in 2021, which increases by 37% compared to 2020.
Jay K. Oberg, Executive Vice President and Chief Risk Officer, earned $2.2M in 2021, a 36% increase compared to previous year.
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Source: SEC filing on March 15, 2022.