Powell Scott 4

What Happened

• Scott Powell, Chief Operating Officer of Wells Fargo & Company (WFC), was granted 98,136.017 share equivalents on February 26, 2026. The reported acquisition price is $0.00 — this reflects an award/vesting of derivative interests (performance shares and ESOP fund equivalents), not a cash purchase or open-market trade.
• The filing treats these as derivative awards (contingent rights), not immediate cash transactions. No dollar value is reported in the Form 4 for the award itself.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-02-27 (appears timely).
• Reported amount: 98,136.017 shares; reported price: $0.00 (code A — grant/award).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes of note:
  • F1: Part or all of the amount reflects ESOP Fund units under the 401(k) Plan converted to share equivalents as if cash equivalents were fully invested in WFC stock (as of Jan 30, 2026).
  • F2: Each Performance Share is a contingent right to receive one share of common stock.
  • F3: These are 2023 Performance Shares determined by performance for the 2023–2025 period (award granted Jan 24, 2023) and are exempt under Rule 16b-3(d). Powell agreed to hold required shares while employed and for one year after retirement under the company’s Stock Ownership Policy.

Context

• This is an award/vesting of performance-based and 401(k) ESOP share equivalents (derivative interests), not a market purchase or sale. Performance Shares are contingent rights that may convert to actual shares under plan rules.
• Such grants are common executive compensation events and are subject to the company’s holding and ownership policies; they do not by themselves signal a buy or sell decision by the insider.