Comerica Bank CEO: 33% direct compensation increase in 2005 (to $2.5 mil)

[Bush_Eats_Beef]

Comerica CEO's direct compensation rose 33% in 2005
Silicon Valley/San Jose Business Journal - 2:38 PM PDT Monday

http://www.bizjournals.com/sanjose/stories/2006/04/10/daily15.html?f=et79&hbx=e_du



Comerica Inc. said on Monday it gave chief executive Ralph W. Babb $2.5 million in direct compensation in 2005, a nearly 33 percent increase from the previous year.

In a proxy filed with the Securities and Exchange commission, Detroit-based Comerica (NYSE:CMA) disclosed that Babb also got restricted stock awards worth $714,870 in 2005 and 175,000 new options. The new options were valued at $6.1 million if the stock appreciates by 5 percent annually or $15.3 million at 10 percent appreciation.

In 2004 he received $656,250 in restricted stock awards and 150,000 new options. The options were valued at $4.9 million if the stock appreciated by 5 percent annually or $12.6 million at 10 percent appreciation.

He also realized $610,740 in 2005 by exercising 18,000 options. That compares with $919,500 he realized in 2004 by exercising 22,500 options.

Comerica's stock price dropped 7 percent in 2005, closing at $56.76 a share on Dec. 3. It closed at $58.40 on Monday.

Comerica is the fourth largest bank in the Silicon Valley, with 27 branches here.