Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 34

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 34
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 attract, motivate, and retain the most qualified senior executive leadership team. In 2024, the HRC increased target total compensation for Mr. Santomassimo and Mr. Weiss, reflecting the HRC’s evaluation of market pay levels and for Mr. Santomassimo, a review of his performance and responsibilities. Target total compensation for Mr. Rivas and Ms. Engle were established by the HRC in connection with their hiring. Due to the timing of Mr. Rivas’ and Ms. Engle’s respective hire dates, and per the terms of our compensation program, their target variable compensation was not prorated for 2024. Target total compensation remained unchanged from 2023 for Mr. Scharf.

Pay Mix

All members of the Operating Committee, including NEOs other than the CEO, have a consistent variable compensation pay mix, with 70% of variable compensation delivered as long-term equity. The CEO has a higher percentage, with a minimum of 75% of his variable compensation delivered as long-term equity.

Pay-for-Performance Outcomes

Throughout 2024, the HRC periodically assessed the Company’s performance. During the fourth quarter of 2024 and in January 2025, the HRC completed in-depth reviews of all aspects of the Company’s financial and non-financial performance, and individual NEO performance.

In January 2025, the Board and the HRC approved the following 2024 compensation outcomes after assessing performance for our CEO and other NEOs, respectively. Refer to 20 24 Named Executive Officer Compensation for additional detail on the Board’s (for CEO) and HRC’s evaluation of performance, their actions, and the resulting pay decisions.

#### 2025 Proxy Statement45

#### Executive Compensation
| NEO                     |     | 2024 Pay-for-Performance Outcomes |            |     |            |      |     |             |      |              |            |     |              |             |     |             |
| Salary1                 |     | Annual Cash                       
 Bonus                             |            |     |            | PSAs |     |             | RSRs | Total        
 Compensation |            |     | Target Total 
 Compensation |             |     |             |
| Charles W. Scharf       |     |                                   | $2,500,000 |     | $7,178,500 |      |     | $13,998,075 |      |              | $7,537,425 |     |              | $31,214,000