Ling Bei 4

What Happened

• Ling Bei, Senior Executive Vice President at Wells Fargo & Company (WFC), reported a gift transaction dated May 27, 2025: a transfer of 74,912 shares to a revocable trust. The Form 4 shows both a disposition (G) and an acquisition (G) of 74,912 shares at $0.00, reflecting the transfer; no cash was exchanged.
• Footnote F1 states this gift was not previously reported and that subsequent Form 4s incorrectly reported those shares as directly held — this filing corrects that reporting. Footnote F2 notes certain reported holdings reflect ESOP 401(k) share equivalents as of Jan 30, 2026, not new open‑market purchases.

Key Details

• Transaction date: 2025-05-27; Transaction type: Gift (code G)
• Shares transferred: 74,912; Reported price per share: $0.00; Reported total value: $0
• Filing date: 2026-02-20 (this Form 4 was filed several months after the transaction; typical Form 4 reporting is within 2 business days)
• Shares owned after transaction: Not specified in the provided excerpt — check the full Form 4 for post‑transaction beneficial ownership
• Notable footnotes: F1 (gift to revocable trust not previously reported; correction noted), F2 (ESOP/401(k) share‑equivalent disclosure)

Context

• Gifts are transfers of ownership (often for estate or planning reasons) and do not represent market buys or sales; they generally should not be interpreted as an insider buy/sell signal.
• Because this was a gift and not a sale or purchase, it does not reflect a cash transaction or a market sentiment by the insider. The filing was late relative to the transaction date, and this filing corrects prior reporting.