[Form 4] WELLS FARGO & COMPANY/MN Insider Trading Activity

Steven D. Black, a director of Wells Fargo & Company (WFC), reported changes in his beneficial ownership dated 10/01/2025.

Rhea-AI Filing Summary

Steven D. Black, a director of Wells Fargo & Company (WFC), reported changes in his beneficial ownership dated 10/01/2025. The filing discloses a disposition of 138.4604 shares of common stock and an acquisition of 1,112.8972 Phantom Stock Units on the same date. Each Phantom Stock Unit represents the right to receive one share of common stock, and the filing states these deferred compensation shares are payable in a lump sum or installments per the director's election.

After the transactions and including dividend equivalents reinvested, the reporting person’s beneficial ownership increased to 53,999.8529 shares (or share equivalents). The Phantom Stock Units were reported at a price of $80.87 per underlying share. The Form 4 was signed on behalf of Mr. Black by an attorney-in-fact on 10/03/2025.

Insider Trade Summary

Grant/Award: 1,112.8972 shares

Grant/Award 2 txns

Insider BLACK STEVEN D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1,112.8972	$80.87	$90K
holding	Common Stock, $1 2/3 Par Value	--	--	--

Holdings After Transaction: Phantom Stock Units — 53,999.8529 contracts (Direct); Common Stock, $1 2/3 Par Value — 138.4604 shares (Direct)

Footnotes (4)

1. F1. Includes shares acquired under a dividend reinvestment program since the reporting person's most recent filing on Form 4.
2. F2. Each Phantom Stock Unit represents the right to receive one share of Wells Fargo & Company common stock.
3. F3. Deferred compensation shares payable in a lump sum or installments based upon director's election.
4. F4. Includes dividend equivalents reinvested in additional Phantom Stock Units.

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Accepted by SEC EDGAR 10/03/2025 - 04:11 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BLACK STEVEN D

(Last) (First) (Middle)

333 MARKET STREET

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WELLS FARGO & COMPANY/MN [ WFC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $1 2/3 Par Value								138.4604(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(2)	10/01/2025		A		1,112.8972		(3)	(3)	Common Stock, $1 2/3 Par Value	1,112.8972	$80.87	53,999.8529(4)	D

Explanation of Responses:

1. Includes shares acquired under a dividend reinvestment program since the reporting person's most recent filing on Form 4.

2. Each Phantom Stock Unit represents the right to receive one share of Wells Fargo & Company common stock.

3. Deferred compensation shares payable in a lump sum or installments based upon director's election.

4. Includes dividend equivalents reinvested in additional Phantom Stock Units.

	Steven D. Black, by Meghan Daly, as Attorney-in-Fact	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.