Ling Bei 4

What Happened

• Ling Bei, Senior Executive Vice President at Wells Fargo (WFC), had restricted share rights (RSRs) vest on February 5, 2026 and the RSRs converted into common shares. A total of 33,207.729 shares were acquired upon conversion (three RSR tranches). To satisfy tax withholding obligations, 15,337.638 shares were withheld/disposed at $93.14 per share, totaling $1,428,548.
• These transactions are reported as M (exercise/conversion of derivative/RSR) for the vesting/conversion and F (payment of exercise price or tax liability) for the shares withheld. This was vesting and tax-withholding activity (routine), not an open-market purchase or a discretionary sale for investment purposes.

Key Details

• Transaction date: February 5, 2026; Form 4 filed February 9, 2026 (appears timely).
• Shares acquired via conversion/vesting: 33,207.729 shares (three tranches).
• Shares withheld for taxes (disposed): 15,337.638 shares at $93.14 each = $1,428,548 total.
• Shares owned after transaction: Not stated in the provided filing excerpt.
• Footnotes: RSRs came from grants dated Jan 24, 2023; Jan 23, 2024; and Jan 28, 2025 (each vesting in three installments, this representing the one-third vesting on 2/5/2026). Each RSR equals a contingent right to one share. Reporting person agreed to hold required shares per the company's Stock Ownership Policy.
• Transaction codes: M = exercise/conversion of derivative; F = tax withholding. These indicate a vesting/settlement with cashless withholding to cover taxes.

Context

• RSRs are restricted share rights that convert to common stock upon vesting; withholding of shares to cover taxes is a common, routine practice and does not necessarily indicate a view on the company’s stock.
• This was not an open-market sale or a purchase by the insider — it was vesting plus tax-related share withholding.