BLACK STEVEN D 4

What Happened Steven D. Black, a director of Wells Fargo & Company (WFC), was granted 3,436 Common Stock Units (a derivative equity award) on April 28, 2026. The units were valued at $81.50 each for an aggregate grant value of $280,034. The units vested upon grant, but settlement (conversion to actual shares) is deferred until the later of Black's termination of service as a director or a later settlement date he elects.

Key Details

• Transaction date: 2026-04-28; Form 4 filed 2026-04-30 (appears timely; within standard 2-business-day window).
• Transaction type/code: A — Award/Grant of derivative Common Stock Units.
• Amount and price: 3,436 units at $81.50 per unit; aggregate value $280,034.
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnotes: F1 — units vested on grant with settlement deferred until end of service or later date elected; F2 — each Common Stock Unit equals the right to receive one share of common stock; F3 — grant includes dividend equivalents that were reinvested into additional Common Stock Units.
• No indication this was a sale or market purchase — it is a director compensation award.

Context This was a routine equity award to a board member rather than an open-market buy or sale. The award gives Black a right to future shares (Common Stock Units) that will convert to actual shares only upon the deferred settlement conditions noted above. Dividend equivalents added to the units mean the grant can increase over time before settlement.