Fercho Kristy 4
4 · WELLS FARGO & COMPANY/MN · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Wells Fargo (WFC) Sr. EVP Kristy Fercho Receives Performance Shares
What Happened
Kristy Fercho, Senior Executive Vice President of Wells Fargo & Company (WFC), had 25,823.909 performance shares settle on March 5, 2026 (converted to common stock). To cover tax withholding, 11,476.947 of those shares were surrendered/sold at $83.93 per share for proceeds of $963,260. The underlying award was a 2023 Performance Share grant covering the three‑year performance period ended December 31, 2025.
Key Details
- Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely).
- Award settled: 25,823.909 shares (exercise/conversion of performance share award) at $0 exercise price (award settlement).
- Tax withholding/disposition: 11,476.947 shares disposed at $83.93 = $963,260 (reported as Code F, tax withholding).
- Shares owned after the transaction: not specified in the filing.
- Notable footnotes: settlement of a Performance Share award granted Jan 24, 2023 (includes reinvested dividend equivalents); award is exempt under Rule 16b‑3(d). Reporting person agreed to hold required shares while employed and for one year after retirement per the Company’s Stock Ownership Policy.
Context
This was a routine performance‑award settlement (not an open‑market purchase). The tax withholding/surrender is a common way to cover tax liabilities on vested awards and does not, by itself, signal a discretionary sale of remaining holdings.
Insider Transaction Report
- Exercise/Conversion
Common Stock, $1 2/3 Par Value
[F1][F2]2026-03-05+25,823.909→ 104,906.251 total - Tax Payment
Common Stock, $1 2/3 Par Value
2026-03-05$83.93/sh−11,476.947$963,260→ 93,429.304 total - Exercise/Conversion
2023 Performance Shares
[F4][F5]2026-03-05−25,823.909→ 0 total→ Common Stock, $1 2/3 Par Value (25,823.909 underlying)
- 737.73(indirect: By 401(k))
Common Stock, $1 2/3 Par Value
[F3]
Footnotes (5)
- [F1]These shares represent common stock of Wells Fargo & Company (the "Company") acquired on March 5, 2026 upon settlement of a Performance Share award granted on January 24, 2023 for the three-year performance period ended December 31, 2025, as previously disclosed on a Form 4 filed on February 27, 2026 (including reinvested dividend equivalents).
- [F2]Includes shares acquired under a dividend reinvestment program since the reporting person's most recent filing on Form 4.
- [F3]Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of February 27, 2026, as if investable cash equivalents held by the Plan were fully invested in Company common stock.
- [F4]Each Performance Share represents a contingent right to receive one share of Company common stock.
- [F5]Represents the number of 2023 Performance Shares (including reinvested dividend equivalents) determined based on financial performance for the three-year performance period ended December 31, 2025 pursuant to the terms and conditions of a Performance Share award granted on January 24, 2023, which is exempt under Rule 16b-3(d). As a condition to receiving the grant, the reporting person agreed to hold, while employed by the Company and for one year after retirement, shares of Company common stock as required under the Company's Stock Ownership Policy.