Charles W. Scharf - Mar 15, 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
CEO & President, Director
Signature
Charles W. Scharf, by Janet McGinness, as Attorney-in-Fact
Stock symbol
WFC
Transactions as of
Mar 15, 2023
Transactions value $
-$5,158,692
Form type
4
Date filed
3/17/2023, 03:37 PM
Previous filing
Mar 1, 2023
Next filing
Jun 14, 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 +240K +56.88% $0.00 662K Mar 15, 2023 Direct F1, F2
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$5.16M -133K -20.05% $38.85 529K Mar 15, 2023 Direct
holding WFC Common Stock, $1 2/3 Par Value 103 Mar 15, 2023 Through Trust

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 -240K -100% $0.00* 0 Mar 15, 2023 Common Stock, $1 2/3 Par Value 240K 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 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 319 shares acquired through the Company's dividend reinvestment plan on 3/2/2023.
F3 Each Performance Share represents a contingent right to receive one share of Company common stock upon vesting.
F4 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.