Charles W. Scharf - 21 Oct 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
CEO & President, Director
Signature
Charles W. Scharf, by Ryan T. Tollgaard, as Attorney-in-Fact
Issuer symbol
WFC
Transactions as of
21 Oct 2023
Net transactions value
-$2,829,348
Form type
4
Filing time
24 Oct 2023, 16:21:40 UTC
Previous filing
15 Sep 2023
Next filing
07 Dec 2023
SEC
View on sec.gov

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 +127,050 +24% $0.000000 656,856 21 Oct 2023 Direct F1
transaction WFC Common Stock, $1 2/3 Par Value Tax liability $2,829,348 -70,259 -11% $40.27 586,597 21 Oct 2023 Direct
holding WFC Common Stock, $1 2/3 Par Value 103 21 Oct 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 Restricted Share Right Options Exercise $0 -127,050 -50% $0.000000 127,050 21 Oct 2023 Common Stock, $1 2/3 Par Value 127,050 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 10/21/2023. Original grant date was 10/21/2019. This vesting represents one-fifth 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 five installments: one-fifth on 10/21/2020, 10/21/2021, 10/21/2022, 10/21/2023, and 10/21/2024. 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