Form 4: Wells Fargo Director Fabian T. Garcia Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Director Fabian T. Garcia reports acquiring phantom stock units convertible to Wells Fargo common stock.
Summary
- On October 1, 2024, Fabian T. Garcia, a director of Wells Fargo & Company, reported acquiring 451.345 phantom stock units.
- These units are convertible into an equal number of Wells Fargo common stock shares.
- The acquisition occurred at a price of $55.39 per unit, resulting in a holding of 732.9155 phantom stock units.
- The phantom stock units represent deferred compensation shares payable in installments based upon the director's election.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.
Stakeholder Impact
- The acquisition of phantom stock units by a director signals confidence in the company's future performance, which can positively influence shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of transaction: Acquisition of phantom stock units |
| 10/03/2024 | Date of signature on the Form 4 filing |
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