Form 4: Wells Fargo Director Acquires Phantom Stock Units

Fabian T. Garcia, a director at Wells Fargo & Company, acquired phantom stock units representing the right to receive common stock, as reported in a recent SEC filing.

Summary

• On July 1, 2024, Fabian T. Garcia, a director of Wells Fargo & Company, acquired phantom stock units.
• The transaction involved the acquisition of 279.6574 phantom stock units, each representing the right to receive one share of Wells Fargo & Company common stock.
• The price of the derivative security was $60.59.
• These shares are payable in installments based upon the director's election.

Sentiment

Score: 5

Explanation: The document is a neutral report of a transaction involving phantom stock units, with no inherent positive or negative sentiment.

Future Outlook

The phantom stock units represent deferred compensation shares payable in installments based upon the director's election.

Industry Context

This filing is a routine disclosure of a director's compensation in the form of phantom stock units, a common practice in corporate governance to align the interests of directors with those of shareholders.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates