Bei Ling - Jan 15, 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
Sr. Executive Vice President
Signature
Bei Ling, by Janet McGinness, as Attorney-in-Fact
Stock symbol
WFC
Transactions as of
Jan 15, 2023
Transactions value $
-$628,189
Form type
4
Date filed
1/18/2023, 10:21 AM
Previous filing
Jan 27, 2022
Next filing
Jan 26, 2023

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 +34.3K $0.00 34.3K Jan 15, 2023 Direct F1
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$628K -14.2K -41.45% $44.22 20.1K Jan 15, 2023 Direct

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 Restricted Share Right Options Exercise $0 -34.3K -65% $0.00 18.5K Jan 15, 2023 Common Stock, $1 2/3 Par Value 34.3K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Number of shares represents a Restricted Share Right ("RSR") vesting on January 15, 2023. Original grant date was October 26, 2021. This vesting represents 65% of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
F2 Each RSR represents a contingent right to receive one share of Wells Fargo & Company (the "Company") common stock.
F3 These RSRs vest in two installments: 65% on 1/15/2023 and 35% on 1/15/2024. 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.

Remarks:

Exhibit 24 - Power of Attorney