Michael P. Santomassimo - Mar 5, 2024 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
Sr. EVP & CFO
Signature
Michael P. Santomassimo, by Meghan Daly, as Attorney-In-Fact
Stock symbol
WFC
Transactions as of
Mar 5, 2024
Transactions value $
-$5,091,139
Form type
4
Date filed
3/7/2024, 08:15 PM
Previous filing
Feb 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WFC Common Stock, $1 2/3 Par Value Options Exercise $0 +176K +79.7% $0.00 397K Mar 5, 2024 Direct F1
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$5.09M -89.9K -22.64% $56.60 307K Mar 5, 2024 Direct
holding WFC Common Stock, $1 2/3 Par Value 862 Mar 5, 2024 Through 401(k) Plan F2
holding WFC Common Stock, $1 2/3 Par Value 1K Mar 5, 2024 Through Spouse's IRA

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WFC 2021 Performance Shares Options Exercise $0 -176K -100% $0.00* 0 Mar 5, 2024 Common Stock, $1 2/3 Par Value 176K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares represent common stock of Wells Fargo & Company (the "Company") acquired on March 5, 2024 upon settlement of a Performance Share award granted on January 26, 2021 for the three-year performance period ended December 31, 2023 (as previously disclosed on a Form 4 filed on February 29, 2024), plus dividend equivalents invested in additional Performance Shares.
F2 Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of February 29, 2024, as if investable cash equivalents held by the Plan were fully invested in Company common stock.
F3 Each Performance Share represents a contingent right to receive one share of Company common stock upon vesting.
F4 Represents the number of 2021 Performance Shares determined based on financial performance for the three-year performance period ended December 31, 2023 pursuant to the terms and conditions of a Performance Share award granted on January 26, 2021, plus dividend equivalents invested in additional Performance Shares, which is exempt under Rule 16b-3(d). As a condition to receiving the grant, the reporting person agreed to hold, while employed by the Company and for one year after retirement, shares of Company common stock as required under the Company's Stock Ownership Policy.