Charles W. Scharf - Oct 21, 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
Stock symbol
WFC
Transactions as of
Oct 21, 2023
Transactions value $
-$2,829,348
Form type
4
Date filed
10/24/2023, 04:21 PM
Previous filing
Sep 15, 2023
Next filing
Dec 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 +127K +23.98% $0.00 657K Oct 21, 2023 Direct F1
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$2.83M -70.3K -10.7% $40.27 587K Oct 21, 2023 Direct
holding WFC Common Stock, $1 2/3 Par Value 103 Oct 21, 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 -127K -50% $0.00 127K Oct 21, 2023 Common Stock, $1 2/3 Par Value 127K 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