Santomassimo Michael P. 4

What Happened Michael P. Santomassimo, Sr. EVP & CFO of Wells Fargo & Company (WFC), was granted 64,114 restricted share rights (RSRs) reported as a derivative award on January 27, 2026. The Form 4 shows acquisition at $0.00 because these are award units (not an open-market purchase). Each RSR is a contingent right to one share of company common stock.

Key Details

• Transaction date: 2026-01-27; filing date: 2026-01-29 (filed two days after the transaction).
• Amount: 64,114 RSRs acquired; price reported $0.00 (award/derivative).
• Vesting: RSRs vest in three equal installments — one-third on 2/5/2027, one-third on 2/5/2028, and one-third on 2/5/2029 (Footnote F3).
• Footnotes: F1 notes the amount reflects share equivalents of units in the Wells Fargo ESOP Fund under the 401(k) Plan as of 12/31/2025; F2 confirms each RSR equals a contingent right to one share; F3 includes a hold requirement while employed and for one year after retirement under the Company’s Stock Ownership Policy.
• Shares owned after the transaction: not specified in the filing.
• Exhibit: Power of attorney (Exhibit 24) referenced.

Context This is a grant of restricted share rights (a common form of executive compensation). RSRs are not immediately tradable shares — they convert to shares only if and when vesting conditions are met. The filing appears timely (filed two business days after the grant). For value estimates, multiply the 64,114 award by the current WFC share price; the Form 4 lists acquisition price as $0 because it reports an award rather than a cash purchase.