Form 4: Wells Fargo Executive Ellen R. Patterson Reports Stock Transactions

Ellen R. Patterson, Sr. EVP and General Counsel of Wells Fargo, reports the acquisition and disposal of company stock related to performance share settlements and 401(k) holdings.

Summary

• On March 5, 2025, Ellen R. Patterson, Sr. EVP and General Counsel of Wells Fargo, reported transactions involving Wells Fargo common stock.
• These transactions include the acquisition of 62,447.5764 shares upon settlement of a performance share award granted on January 25, 2022, for the three-year performance period ended December 31, 2024.
• Simultaneously, 31,923.1565 shares were disposed of for $73.3 each.
• Patterson also reported beneficial ownership of 1,271.16 shares through the Wells Fargo ESOP Fund under the 401(k) Plan as of February 28, 2025.
• Following these transactions, Patterson directly owns 198,698.9798 shares and indirectly owns 1,271.16 shares through the 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, as required by the SEC. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies like Wells Fargo.
• Similar filings are made by executives at other major financial institutions such as JPMorgan Chase (JPM) and Bank of America (BAC).
• The reporting requirements are standardized by the SEC to ensure transparency and prevent insider trading.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
• The filing provides transparency to stakeholders regarding executive compensation and stock ownership.

Key Dates