Scott Powell - Jan 28, 2024 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Role
SEVP & Chief Operating Officer
Signature
Scott E. Powell, by Ryan T. Tollgaard, as Attorney-in-Fact
Stock symbol
WFC
Transactions as of
Jan 28, 2024
Transactions value $
-$756,080
Form type
4
Date filed
1/30/2024, 04:15 PM
Previous filing
Jan 25, 2024
Next filing
Feb 7, 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 +35.2K +29.04% $0.00 156K Jan 28, 2024 Direct F2
transaction WFC Common Stock, $1 2/3 Par Value Tax liability -$756K -15K -9.61% $50.32 141K Jan 28, 2024 Direct
holding WFC Common Stock, $1 2/3 Par Value 3.28K Jan 28, 2024 Through 401(k) Plan F1

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 -35.2K -100% $0.00* 0 Jan 28, 2024 Common Stock, $1 2/3 Par Value 35.2K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of December 29, 2023, as if investable cash equivalents held by the Plan were fully invested in Wells Fargo & Company (the "Company") common stock.
F2 Number of shares represents a Restricted Share Right ("RSR") vesting on January 28, 2024. Original grant date was January 28, 2020. This vesting represents 20% of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
F3 Each RSR represents a contingent right to receive one share of Company common stock.
F4 These RSRs vest in four installments: 40% on 1/28/2021, and 20% on 1/28/2022, 1/28/2023 and 1/28/2024. 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.