Ling Bei 4

What Happened

• Ling Bei, Senior Executive Vice President of Wells Fargo & Company (WFC), received an award of 47,218.807 share equivalents on February 26, 2026. The filing reports the transaction as an award/grant (code A) with a $0.00 acquisition price and is recorded as a derivative interest.
• The reported units reflect a mix of performance-share payout and share-equivalents in the Wells Fargo ESOP/401(k) plan as explained in the filing footnotes. The award includes Performance Shares that are contingent rights to receive one share of common stock if plan conditions are met.

Key Details

• Transaction date: 2026-02-26; filing date: 2026-02-27 (timely filing).
• Reported amount: 47,218.807 shares; price reported: $0.00 (award/derivative, not an open-market purchase).
• Footnotes of note:
  • F1: Part of the amount reflects ESOP/401(k) share equivalents as if cash equivalents were fully invested in WFC stock (as of Jan 30, 2026).
  • F2: Each Performance Share equals a contingent right to one share.
  • F3: These are the 2023 Performance Shares determined based on 3-year performance through Dec 31, 2025 (award originally granted Jan 24, 2023) and are subject to the Company’s holding requirement while employed and for one year after retirement.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• This was an award/grant of derivative interests (performance shares/ESOP equivalents), not a purchase or sale. No cash changed hands at the reported price of $0.00.
• Performance shares are contingent on prior grant terms and performance metrics; when vested/paid they convert into common stock per plan rules. The filing notes the grant is exempt under Rule 16b-3(d).
• Awards like this are typically part of compensation and retention programs and should not be interpreted alone as a bullish or bearish signal.