Wells Fargo (WFC) EVP Kleber Santos settles 2023 performance shares and withholds stock for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Wells Fargo & Company senior executive vice president Kleber Santos reported equity award activity involving Company common stock. On March 5, 2026, he exercised 2023 Performance Shares, acquiring 60,914.5522 shares of common stock upon settlement of a performance share award for the three‑year period ended December 31, 2025, including reinvested dividend equivalents. A portion of the resulting shares, 29,929.9502, was automatically disposed of at $83.93 per share to cover tax obligations through share withholding, which is not an open‑market sale. Following these transactions, he held 110,860.1308 shares of common stock directly, plus 893.6700 share equivalents indirectly through the Wells Fargo 401(k) Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
60,914.552 shares exercised/converted
Mixed
4 txns
Insider
Santos Kleber
Role
Sr. Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Performance Shares | 60,914.552 | $0.00 | -- |
| Exercise | Common Stock, $1 2/3 Par Value | 60,914.552 | $0.00 | -- |
| Tax Withholding | Common Stock, $1 2/3 Par Value | 29,929.95 | $83.93 | $2.51M |
| holding | Common Stock, $1 2/3 Par Value | -- | -- | -- |
Holdings After Transaction:
2023 Performance Shares — 0 shares (Direct);
Common Stock, $1 2/3 Par Value — 140,790.081 shares (Direct);
Common Stock, $1 2/3 Par Value — 893.67 shares (Indirect, Through 401(k) Plan)
Footnotes (1)
- 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). 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. Each Performance Share represents a contingent right to receive one share of Company common stock. 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.
FAQ
What insider transaction did Kleber Santos report at Wells Fargo (WFC)?
Kleber Santos reported settling 2023 Performance Shares into Wells Fargo common stock. He acquired 60,914.5522 shares upon settlement and had 29,929.9502 shares withheld to satisfy tax obligations, resulting in updated direct and indirect holdings in the company.
Were Kleber Santos’ Wells Fargo (WFC) transactions open-market buys or sells?
The filing shows no open-market buys or sells. Shares were acquired through settlement of 2023 Performance Shares and some were disposed of via tax withholding at $83.93 per share, a common administrative mechanism rather than a discretionary market sale.
How are Kleber Santos’ Wells Fargo (WFC) 401(k) holdings reported?
His 401(k) holdings are reported as 893.6700 share equivalents in the Wells Fargo ESOP Fund. This reflects units under the 401(k) Plan as of February 27, 2026, assuming investable cash equivalents in the plan were fully invested in Wells Fargo common stock.