Form 4: Wells Fargo Director Fabian T. Garcia Reports Acquisition of Phantom Stock Units

Director Fabian T. Garcia reports acquisition of phantom stock units representing the right to receive Wells Fargo common stock.

Summary

• On January 1, 2025, Fabian T. Garcia, a director of Wells Fargo & Company, reported the acquisition of 355.9226 phantom stock units.
• Each phantom stock unit represents the right to receive one share of Wells Fargo common stock.
• These shares are part of deferred compensation payable in installments based on the director's election.
• Following the transaction, Garcia beneficially owns 1,092.687 derivative securities.
• The price of the derivative security is $70.24.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral. The acquisition of phantom stock units can be seen as a positive sign of alignment between the director and shareholder interests.

Future Outlook

The phantom stock units are payable in installments based upon the director's election, indicating a deferred compensation arrangement.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

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

Key Dates