Scott Powell - Mar 15, 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: Mar 15, 2023
Transactions value $: -$105,513
Form type: 4
Date filed: 3/17/2023, 03:31 PM
Previous filing: Mar 1, 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	+3.55K	+2.99%	$0.00	122K	Mar 15, 2023	Direct	F1, F2
transaction	WFC	Common Stock, $1 2/3 Par Value	Tax liability	-$70.4K	-1.81K	-1.48%	$38.85	120K	Mar 15, 2023	Direct
transaction	WFC	Common Stock, $1 2/3 Par Value	Options Exercise	$0	+1.77K	+1.47%	$0.00	122K	Mar 15, 2023	Direct	F3
transaction	WFC	Common Stock, $1 2/3 Par Value	Tax liability	-$35.1K	-903	-0.74%	$38.85	121K	Mar 15, 2023	Direct
holding	WFC	Common Stock, $1 2/3 Par Value						2.81K	Mar 15, 2023	Through 401(k) Plan	F4

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	2020 Performance Shares	Options Exercise	$0	-3.55K	-100%	$0.00^*	0	Mar 15, 2023	Common Stock, $1 2/3 Par Value	3.55K		Direct	F5, F6
transaction	WFC	Restricted Share Right	Options Exercise	$0	-1.77K	-100%	$0.00^*	0	Mar 15, 2023	Common Stock, $1 2/3 Par Value	1.77K		Direct	F7, F8

* 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 15, 2023 upon settlement of a Performance Share award granted on March 3, 2020 for the three-year performance period ended December 31, 2022 (as previously disclosed on a Form 4 filed on March 1, 2023).
F2	Includes 157 shares acquired through the Company's dividend reinvestment plan on 3/2/2023.
F3	Number of shares represents a Restricted Share Right ("RSR") vesting on March 15, 2023. Original grant date was March 3, 2020. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
F4	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.
F5	Each Performance Share represents a contingent right to receive one share of Company common stock upon vesting.
F6	Represents the number of 2020 Performance Shares determined based on financial performance for the three-year performance period ended December 31, 2022 pursuant to the terms and conditions of a Performance Share award granted on March 3, 2020, 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.
F7	Each RSR represents a contingent right to receive one share of Company common stock.
F8	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.