Van Beurden Saul 4
4 · WELLS FARGO & COMPANY/MN · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Wells Fargo (WFC) SVP Saul Van Beurden Receives and Sells Shares
What Happened
Saul Van Beurden, Senior Executive Vice President at Wells Fargo (WFC), had 88,175.905 performance share units settle into common stock on March 5, 2026 (no cash exercise price). To satisfy tax withholding obligations, 45,013.771 of those shares were surrendered/withheld at $83.93 per share, producing proceeds/withholding of $3,778,006.
Key Details
- Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely within the 2-business-day requirement).
- Settlement: 88,175.905 Performance Shares converted to common stock @ $0.00 (these were granted Jan 24, 2023 for the 3‑year performance period ended Dec 31, 2025).
- Tax withholding/disposition: 45,013.771 shares @ $83.93 = $3,778,006 (reported as code F).
- Footnotes: Performance Shares are contingent rights to receive one share each and the award is exempt under Rule 16b-3(d); the reporting person agreed to hold required stock while employed and for one year after retirement. Dividend equivalents were reinvested.
- Shares owned after the transaction: not specified in the provided filing excerpt.
Context
- This was a settlement of a performance-based award (not an open-market purchase). The conversion occurred at no cash exercise price because these were performance shares; some of the shares were withheld/surrendered to cover tax liabilities (a routine, administrative step).
- Such award settlements and associated withholding are common and do not by themselves indicate a change in insider sentiment about the company.
Insider Transaction Report
Form 4
Van Beurden Saul
Sr. Executive Vice President
Transactions
- Exercise/Conversion
Common Stock, $1 2/3 Par Value
[F1][F2]2026-03-05+88,175.905→ 304,282.752 total - Tax Payment
Common Stock, $1 2/3 Par Value
2026-03-05$83.93/sh−45,013.771$3,778,006→ 259,268.982 total - Exercise/Conversion
2023 Performance Shares
[F4][F5]2026-03-05−88,175.905→ 0 total→ Common Stock, $1 2/3 Par Value (88,175.905 underlying)
Holdings
- 1,292.3(indirect: By 401(k))
Common Stock, $1 2/3 Par Value
[F3] - 2,316.234(indirect: By Children)
Common Stock, $1 2/3 Par Value
- 2,282(indirect: By Children)
Common Stock, $1 2/3 Par Value
- 2,282(indirect: By Children)
Common Stock, $1 2/3 Par Value
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.
Signature
Saul Van Beurden, by Meghan Daly, as Attorney-in-Fact|2026-03-09