Scott Powell - Jan 28, 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
SEVP & Chief Operating Officer
Signature
Scott E. Powell, by Janet McGinness, as Attorney-in-fact
Stock symbol
WFC
Transactions as of
Jan 28, 2023
Transactions value $
-$655,577
Form type
4
Date filed
1/31/2023, 10:58 AM
Previous filing
Jan 26, 2023
Next filing
Feb 7, 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 +34.2K +46.28% $0.00 108K Jan 28, 2023 Direct F1
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$656K -14.2K -13.16% $46.12 93.8K Jan 28, 2023 Direct
holding WFC Common Stock, $1 2/3 Par Value 2.14K Jan 28, 2023 Through 401(k) Plan F2

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 -34.2K -50% $0.00 34.2K Jan 28, 2023 Common Stock, $1 2/3 Par Value 34.2K Direct F3, F4
* 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 28, 2023. Original grant date was January 28, 2020. This vesting represents 20% of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
F2 Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of December 30, 2022, as if investable cash equivalents held by the Plan were fully invested in Wells Fargo & Company (the "Company") common stock.
F3 Each RSR represents a contingent right to receive one share of Company common stock.
F4 These RSRs vest in four installments: 40% on 1/28/2021, and 20% on 1/28/2022, 1/28/2023 and 1/28/2024. 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.