Form 4: Wells Fargo Executive Bei Ling Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Senior Executive Vice President Bei Ling reports acquisition of performance shares and adjustments in holdings through a 401(k) plan.
Summary
- Bei Ling, a Senior Executive Vice President at Wells Fargo & Company, filed a Form 4 detailing changes in beneficial ownership.
- The report includes the acquisition of 28,241.8535 performance shares on February 24, 2025, which will convert to common stock.
- Ling also reported holding 60,820.4895 shares of common stock directly and 409.79 shares indirectly through a 401(k) plan as of the report date.
- The performance shares were granted on January 25, 2022, and vested based on financial performance over a three-year period ending December 31, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as it is a standard regulatory filing.
Future Outlook
The reporting person agreed to hold shares of Company common stock as required under the Company's Stock Ownership Policy while employed by the Company and for one year after retirement.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The stock ownership policy impacts the executive's financial planning.
Key Dates
| Date | Description |
|---|---|
| January 25, 2022 | Date of performance share award grant. |
| December 31, 2024 | End of the three-year performance period for the performance shares. |
| February 14, 2025 | Date for share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan. |
| February 24, 2025 | Date of transaction for performance shares acquisition. |
| February 26, 2025 | Date of Form 4 filing. |
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