Mack Mary T. - 15 Mar 2023 Form 4 Insider Report for WELLS FARGO & COMPANY/MN (WFC)

Reporting relationship: Sr. Executive Vice President
Issuer ticker: WFC
Reported as of: 15 Mar 2023
Net transaction value: -$1,117,165
SEC form: 4
Accepted by SEC: 17 Mar 2023, 15:22:04 UTC
Prior SEC filing: 01 Mar 2023
Next SEC filing: 17 May 2024
Source filing: View source filing
Reporting owner signature: Mary T. Mack, by Janet McGinness, as Attorney-in-Fact

Key filing fact

Mack Mary T. filed Form 4 for WELLS FARGO & COMPANY/MN (WFC) on 17 Mar 2023.

Key facts

This page summarizes Mack Mary T.'s Form 4 filing for WELLS FARGO & COMPANY/MN (WFC).
6 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 17 Mar 2023, 15:22.

Change

Previous filing in this sequence was filed on 01 Mar 2023.
Current net transaction value: -$1,117,165.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

WFC transaction

Common Stock, $1 2/3 Par Value

Options Exercise

Transaction value: $0
Shares: +44,224
Change %: +19%
Price: $0.000000
Shares after: 275,724
Date: 15 Mar 2023
Ownership: Direct
Footnotes: F1, F2

WFC transaction

Common Stock, $1 2/3 Par Value

Tax liability

Transaction value: $759,423
Shares: -19,548
Change %: -7.1%
Price: $38.85
Shares after: 256,176
Date: 15 Mar 2023
Ownership: Direct

WFC transaction

Common Stock, $1 2/3 Par Value

Options Exercise

Transaction value: $0
Shares: +22,001
Change %: +8.6%
Price: $0.000000
Shares after: 278,177
Date: 15 Mar 2023
Ownership: Direct
Footnotes: F3

WFC transaction

Common Stock, $1 2/3 Par Value

Tax liability

Transaction value: $357,742
Shares: -9,208
Change %: -3.3%
Price: $38.85
Shares after: 268,969
Date: 15 Mar 2023
Ownership: Direct

WFC holding

Common Stock, $1 2/3 Par Value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 42,464
Date: 15 Mar 2023
Ownership: Through 401(k) Plan
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

WFC transaction Derivative

2020 Performance Shares

Options Exercise

Transaction value: $0
Shares: -44,224
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Mar 2023
Ownership: Direct
Underlying class: Common Stock, $1 2/3 Par Value
Underlying amount: 44,224
Exercise price
Footnotes: F5, F6

WFC transaction Derivative

Restricted Share Right

Options Exercise

Transaction value: $0
Shares: -22,001
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Mar 2023
Ownership: Direct
Underlying class: Common Stock, $1 2/3 Par Value
Underlying amount: 22,001
Exercise price
Footnotes: F7, F8

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 8 footnotes

Footnote 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).

Footnote F2

Includes 186 shares acquired through the Company's dividend reinvestment plan on 3/2/2023.

Footnote F3

Number of shares represents a Restricted Share Right ("RSR") vesting on March 15, 2023. Original grant date was March 3, 2020. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).

Footnote F4

Reflects share equivalent of units in the Wells Fargo ESOP Fund and Wells Fargo Non-ESOP Fund under the 401(k) Plan (the "Plan") as of February 28, 2023, as if investable cash equivalents held by the Plan were fully invested in Company common stock.

Footnote F5

Each Performance Share represents a contingent right to receive one share of Company common stock upon vesting.

Footnote F6

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.

Footnote F7

Each RSR represents a contingent right to receive one share of Company common stock.

Footnote F8

These RSRs vest in three installments: one-third on 3/15/2021, 3/15/2022, and 3/15/2023. 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.