Form 4: Wells Fargo Director Steven D. Black Reports Acquisition of Phantom Stock Units

Director Steven D. Black reports acquisition of phantom stock units representing the right to receive Wells Fargo common stock.

Summary

• Steven D. Black, a director of Wells Fargo & Company, filed a Form 4 disclosing a transaction involving phantom stock units.
• On July 1, 2024, Black acquired 1,444.1327 phantom stock units, each representing the right to receive one share of Wells Fargo common stock.
• The price of the derivative security was $60.59.
• Following the transaction, Black beneficially owns 46,343.6477 phantom stock units directly.
• These phantom stock units are deferred compensation shares payable in installments based upon the director's election.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating standard compensation practices. It doesn't suggest any significant positive or negative implications for the company's financial health or future prospects.

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 transaction provides transparency to shareholders regarding director compensation.

Key Dates