SEC Form 4 · accession 0001127602-16-046689
WELLS FARGO & COMPANY/MN · WFC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Levy
Officer — Executive VP & Controller
Period of report
Mar 15, 2016
Accepted (ET)
Mar 17, 2016 · 1:33 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000072971
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $1 2/3 Par ValueF1 | Mar 15, 2016 | M | 81,842 | $0.00 | A | 83,056 | D | |
| Common Stock, $1 2/3 Par Value | Mar 15, 2016 | F | 42,706 | $49.98 | D | 40,350 | D | |
| Common Stock, $1 2/3 Par ValueF2 | Mar 15, 2016 | M | 1,235 | $0.00 | A | 41,585 | D | |
| Common Stock, $1 2/3 Par Value | Mar 15, 2016 | F | 616 | $49.98 | D | 40,969 | D | |
| Common Stock, $1 2/3 Par ValueF3 | Mar 15, 2016 | M | 988 | $0.00 | A | 41,957 | D | |
| Common Stock, $1 2/3 Par Value | Mar 15, 2016 | F | 493 | $49.98 | D | 41,464 | D | |
| Common Stock, $1 2/3 Par ValueF4 | Mar 15, 2016 | M | 558 | $0.00 | A | 42,022 | D | |
| Common Stock, $1 2/3 Par Value | Mar 15, 2016 | F | 279 | $49.98 | D | 41,743 | D | |
| Common Stock, $1 2/3 Par Value | holding | — | — | — | 99 | I | Ira | |
| Common Stock, $1 2/3 Par ValueF5 | holding | — | — | — | 784 | I | Through 401(k) Plan | |
| Common Stock, $1 2/3 Par Value | holding | — | — | — | 93,222 | I | Through RL & DL Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 Performance SharesF6,F7 | — | Mar 15, 2016 | M | 81,842 | D | — | — | Common Stock, $1 2/3 Par Value | 81,842 | 0 | D |
| Restricted Share RightF8,F9 | — | Mar 15, 2016 | M | 1,235 | D | — | — | Common Stock, $1 2/3 Par Value | 1,235 | 0 | D |
| Restricted Share RightF8,F10 | — | Mar 15, 2016 | M | 988 | D | — | — | Common Stock, $1 2/3 Par Value | 988 | 987 | D |
| Restricted Share RightF8,F11 | — | Mar 15, 2016 | M | 558 | D | — | — | Common Stock, $1 2/3 Par Value | 558 | 1,115 | D |
Explanation of responses
- F1These shares represent common stock of Wells Fargo & Company (the "Company") acquired on March 15, 2016 upon settlement of a Performance Share award granted on March 8, 2013 in connection with the attainment of pre-established performance goals over the three-year performance period ended December 31, 2015 (as previously disclosed on a Form 4 filed on March 3, 2016).
- F10These RSRs vest in three installments: one-third on 3/15/2015, 3/15/2016, and 3/15/2017. As a condition to receiving the grant, the reporting person agreed to hold, while employed by the Company and for at least one year after retirement, shares of Company common stock equal to at least 50% of the after-tax shares (assuming a 50% tax rate) acquired upon vesting. These RSRs were granted to the reporting person as part of the reporting person's 2013 annual incentive compensation award.
- F11These RSRs vest in three installments: one-third on 3/15/2016, 3/15/2017, and 3/15/2018. As a condition to receiving the grant, the reporting person agreed to hold, while employed by the Company and for at least one year after retirement, shares of Company common stock equal to at least 50% of the after-tax shares (assuming a 50% tax rate) acquired upon vesting. These RSRs were granted to the reporting person as part of the reporting person's 2014 annual incentive compensation award.
- F2Number of shares represents a Restricted Share Right ("RSR") vesting on 3/15/2016. Original grant date was 3/8/2013. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
- F3Number of shares represents a RSR vesting on 3/15/2016. Original grant date was 2/25/2014. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
- F4Number of shares represents a RSR vesting on 3/15/2016. Original grant date was 2/24/2015. This vesting represents one-third of the original amount of RSRs granted (plus dividend equivalents reinvested in additional RSRs).
- F5Reflects share equivalent of units in the Wells Fargo ESOP Fund under the 401(k) Plan (the "Plan") as of February 29, 2016, as if investable cash equivalents held by the Plan were fully invested in Company common stock.
- F6Each Performance Share represents a contingent right to receive one share of Company common stock upon vesting based on the attainment of pre-established performance goals.
- F7Represents the maximum number of 2013 Performance Shares earned based on the Company's attainment of pre-established performance goals for the three-year performance period ended December 31, 2015, as provided under the terms of a Performance Share award granted on March 8, 2013, which is exempt under Rule 16b-3(d). The 2013 Performance Shares will be settled in shares of common stock of the Company on March 15, 2016. As a condition to receiving the award, the reporting person agreed to hold, while employed by the Company and for at least one year after retirement, shares of Company common stock equal to at least 50% of the after-tax shares (assuming a 50% tax rate) acquired upon vesting.
- F8Each RSR represents a contingent right to receive one share of Company common stock.
- F9These RSRs vest in three installments: one-third on 3/15/2014, 3/15/2015, and 3/15/2016. As a condition to receiving the grant, the reporting person agreed to hold, while employed by the Company and for at least one year after retirement, shares of Company common stock equal to at least 50% of the after-tax shares (assuming a 50% tax rate) acquired upon vesting. These RSRs were granted to the reporting person as part of the reporting person's 2012 annual incentive compensation award.