Angulo Arthur G 4

What Happened
Arthur G. Angulo, a director of Comerica Inc. (CMA), reported a disposition of 7,274 shares of Comerica common stock on February 1, 2026. The Form 4 shows the transaction price as $0.00 because the shares were converted in connection with Comerica’s merger into Fifth Third Bancorp — each Comerica share converted into 1.8663 shares of Fifth Third common stock. Based on that ratio and Fifth Third’s closing price of $50.22 on the last trading day before the merger, the disposition implies receipt of approximately 13,575.47 Fifth Third shares worth about $681,760 (rounded ≈ $682K). The filing reports $0 because the transaction was a merger conversion, not a cash sale.

Key Details

• Transaction date: 2026-02-01 (Effective Time of the merger)
• Report filed: 2026-02-03 (Form 4 covering Feb 1 transaction) — appears timely
• Reported disposition: 7,274 Comerica shares; filing shows $0.00 per share (code D — disposition to issuer)
• Conversion ratio: 1.8663 Fifth Third shares per Comerica share → ~13,575.47 Fifth Third shares implied
• Implied value: ~ $681,760 based on Fifth Third close of $50.22 (last trading day prior to Effective Time)
• Shares owned after transaction: 0 Comerica shares (reporting person no longer beneficially owns any Comerica common stock)
• Footnotes: F1–F3 explain the merger conversion and that all equity awards were converted to Fifth Third awards or stock

Context

• This was a merger-related conversion (not an open-market sale) — listed as a disposition because Comerica shares were converted into Fifth Third stock at the Effective Time (Feb 1, 2026).
• The filing does not indicate any 10b5-1 plan, tax withholding, or cash received; equity awards were similarly converted per the merger agreement.
• For retail investors: merger conversions are corporate-transaction events, so this disposition reflects corporate changeover rather than a director selling shares for personal reasons.