Wells Fargo (WFC) EVP Barry Sommers discloses stock vesting and tax share sales
Rhea-AI Filing Summary
Wells Fargo & Company (WFC) reported insider equity activity by Senior Executive Vice President Barry Sommers. On December 5, 2025, multiple batches of Restricted Share Rights (RSRs) converted into common stock at an exercise price of $0, increasing his direct holdings before tax effects. In connection with Mr. Sommers becoming retirement eligible, Wells Fargo withheld shares to cover FICA taxes, disposing of shares at a price of $90.21 per share.
After these transactions, Mr. Sommers directly held 153,374.8728 shares of Wells Fargo common stock and indirectly held 888.37 share equivalents through the Wells Fargo ESOP Fund under the company 401(k) Plan as of November 28, 2025. The RSR grants vest in three annual installments for each award, and the reporting person is subject to a stock ownership policy that requires holding company shares while employed and for one year after retirement.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Right | 836.003 | $0.00 | -- |
| Exercise | Restricted Share Right | 1,476.029 | $0.00 | -- |
| Exercise | Restricted Share Right | 1,474.157 | $0.00 | -- |
| Exercise | Common Stock, $1 2/3 Par Value | 836.003 | $0.00 | -- |
| Tax Withholding | Common Stock, $1 2/3 Par Value | 836.003 | $90.21 | $75K |
| Exercise | Common Stock, $1 2/3 Par Value | 1,476.029 | $0.00 | -- |
| Tax Withholding | Common Stock, $1 2/3 Par Value | 1,476.029 | $90.21 | $133K |
| Exercise | Common Stock, $1 2/3 Par Value | 1,474.157 | $0.00 | -- |
| Tax Withholding | Common Stock, $1 2/3 Par Value | 1,474.157 | $90.21 | $133K |
| holding | Common Stock, $1 2/3 Par Value | -- | -- | -- |
Footnotes (1)
- Includes shares acquired under a dividend reinvestment program since the reporting person's most recent filing on Form 4. Represents the withholding of shares by Wells Fargo & Company (the "Company") to satisfy FICA taxes arising from the reporting person becoming retirement eligible. Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of November 28, 2025, as if investable cash equivalents held by the Plan were fully invested in Company common stock. Each Restricted Share Right ("RSR") represents a contingent right to receive one share of Company common stock. These RSRs vest in three installments: one-third on 2/5/2024, 2/5/2025, and 2/5/2026. 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. The vesting amount and number of derivative securities in column 5 reflect the withholding of RSRs for payment of FICA taxes. These RSRs vest in three installments: one-third on 2/5/2025, 2/5/2026, and 2/5/2027. 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. The vesting amount and number of derivative securities in column 5 reflect the withholding of RSRs for payment of FICA taxes. These RSRs vest in three installments: one-third on 2/5/2026, 2/5/2027, and 2/5/2028. 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. The vesting amount and number of derivative securities in column 5 reflect the withholding of RSRs for payment of FICA taxes.
FAQ
What insider transaction did WFC report for Barry Sommers?
Wells Fargo reported that Senior Executive Vice President Barry Sommers had multiple Restricted Share Rights vest and convert into common stock on December 5, 2025, along with related share withholding for taxes.
How do the RSR grants for Barry Sommers at WFC vest over time?
The RSR grants vest in three equal installments on specific dates (such as February 5, 2024, 2025, 2026 for one grant and similar three-year schedules for later grants), with each installment delivering shares as they vest.