Scott Powell - 28 Jan 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
Issuer symbol
WFC
Transactions as of
28 Jan 2024
Net transactions value
-$756,080
Form type
4
Filing time
30 Jan 2024, 16:15:52 UTC
Previous filing
25 Jan 2024
Next filing
07 Feb 2024
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 +35,208 +29% $0.000000 156,430 28 Jan 2024 Direct F2
transaction WFC Common Stock, $1 2/3 Par Value Tax liability $756,080 -15,025 -9.6% $50.32 141,405 28 Jan 2024 Direct
holding WFC Common Stock, $1 2/3 Par Value 3,276 28 Jan 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 -35,208 -100% $0.000000* 0 28 Jan 2024 Common Stock, $1 2/3 Par Value 35,208 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.