Ellen R. Patterson - Mar 15, 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
Sr. EVP and General Counsel
Signature
Ellen R. Patterson, by Janet McGinness, as Attorney-in-Fact
Stock symbol
WFC
Transactions as of
Mar 15, 2023
Transactions value $
-$538,629
Form type
4
Date filed
3/17/2023, 03:27 PM
Previous filing
Feb 7, 2023
Next filing
Jan 25, 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 +27.2K +51.47% $0.00 79.9K Mar 15, 2023 Direct F1, F2
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$539K -13.9K -17.35% $38.85 66.1K Mar 15, 2023 Direct
holding WFC Common Stock, $1 2/3 Par Value 820 Mar 15, 2023 Through 401(k) Plan F3

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 -27.2K -100% $0.00* 0 Mar 15, 2023 Common Stock, $1 2/3 Par Value 27.2K Direct F4, F5
* 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 March 15, 2023. Original grant date was March 30, 2020. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
F2 Includes 108 shares acquired through Wells Fargo & Company's (the "Company") dividend reinvestment plan on 3/2/2023.
F3 Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of February 28, 2023, as if investable cash equivalents held by the Plan were fully invested in Company common stock.
F4 Each RSR represents a contingent right to receive one share of Company common stock.
F5 These RSRs vest in three installments: one-third on 3/15/2021, 3/15/2022, and 3/15/2023. 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.