Form 4: Wells Fargo CEO Charles Scharf Reports Stock Transactions
SEC Form 4 Filing
Wells Fargo CEO Charles Scharf reports the vesting and subsequent disposal of restricted share rights (RSRs) and transactions within the 401(k) plan.
Summary
- Charles Scharf, CEO and President of Wells Fargo, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On February 5, 2025, Scharf vested in three tranches of Restricted Share Rights (RSRs) granted on January 25, 2022, January 24, 2023, and January 23, 2024, respectively.
- He acquired 37,845.0504 shares, 42,951.9308 shares, and 43,272.8927 shares through the vesting of these RSRs.
- Simultaneously, Scharf disposed of 18,151.4495 shares, 22,743.0473 shares, and 22,912.9966 shares to cover tax obligations at a price of $79.47 per share.
- The report also reflects holdings in the Wells Fargo ESOP Fund under the 401(k) Plan, with 409.98 shares held indirectly.
- Following these transactions, Scharf directly owns 918,719.7833 shares of Wells Fargo common stock and indirectly owns 103 shares through a trust.
- He also holds 96,726.2077 derivative securities in the form of Restricted Share Rights.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of RSRs is a common form of executive compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect the vesting of previously granted compensation.
Key Dates
| Date | Description |
|---|---|
| January 25, 2022 | Original grant date of RSRs, one-third of which vested on 02/05/2025. |
| January 24, 2023 | Original grant date of RSRs, one-third of which vested on 02/05/2025. |
| January 23, 2024 | Original grant date of RSRs, one-third of which vested on 02/05/2025. |
| January 31, 2025 | Date of share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan. |
| February 5, 2025 | Date of RSR vesting and stock transactions. |
| February 7, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Charles Scharf, Wells Fargo, WFC, Restricted Share Rights, Stock Ownership, Beneficial Ownership, CEO, Equity, Transactions
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