Wells Fargo (NYSE: WFC) GC nets stock from 2023 performance share award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Wells Fargo & Company Senior EVP and General Counsel Ellen R. Patterson received 2023 performance-based equity on March 5, 2026. She exercised 97,258.9754 Performance Shares, each converting into one share of common stock, following a three-year performance period ended December 31, 2025.
The filing shows a related tax-withholding disposition of 49,639.4541 common shares at $83.93 per share, leaving 217,115.9164 common shares held directly. She also has 1,292.3000 share equivalents indirectly through the Wells Fargo 401(k) Plan’s ESOP fund.
Positive
- None.
Negative
- None.
Insider Trade Summary
97,258.975 shares exercised/converted
Mixed
4 txns
Insider
Patterson Ellen R
Role
Sr. EVP and General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Performance Shares | 97,258.975 | $0.00 | -- |
| Exercise | Common Stock, $1 2/3 Par Value | 97,258.975 | $0.00 | -- |
| Tax Withholding | Common Stock, $1 2/3 Par Value | 49,639.454 | $83.93 | $4.17M |
| holding | Common Stock, $1 2/3 Par Value | -- | -- | -- |
Holdings After Transaction:
2023 Performance Shares — 0 shares (Direct);
Common Stock, $1 2/3 Par Value — 266,755.371 shares (Direct);
Common Stock, $1 2/3 Par Value — 1,292.3 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 did WFC executive Ellen Patterson report in this Form 4?
Ellen Patterson reported settlement of 2023 Performance Shares into common stock and related tax withholding. She exercised 97,258.9754 Performance Shares, then had 49,639.4541 common shares withheld at $83.93 for taxes, ending with 217,115.9164 directly owned shares plus 1,292.3000 share equivalents in a 401(k) ESOP fund.
Was the Form 4 for WFC an open-market stock sale by Ellen Patterson?
The Form 4 primarily reflects an equity award settlement and related tax withholding, not an open-market sale. Shares were delivered upon conversion of Performance Shares, and 49,639.4541 shares were disposed of to pay tax liabilities, which is classified as a tax-withholding disposition rather than a discretionary stock sale.
How are Ellen Patterson’s Wells Fargo (WFC) 401(k) holdings reported?
Her indirect holdings are reported as share equivalents in the Wells Fargo ESOP Fund within the 401(k) Plan. The filing lists 1,292.3000 share equivalents as of February 27, 2026, calculated as if all investable cash equivalents in the plan were fully invested in Wells Fargo common stock.