Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 53

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 53
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     |     | <25th percentile |     | 0%     |     |         |     |      |
| 5.0%            |     | 50%    |     | 25th percentile  |     | 50%    |     | Payout: |     | 140% |
| 10.5%           |     | 100%   |     | 50th percentile  |     | 100%   |     |         |     |      |
| 12.0%           |     | 125%   |     | ≥75th percentile |     | 150%   |     |         |     |      |
| ≥13.0%          |     | 150%   |     |                  |     |        |     |         |     |      |

Both payout scales use linear interpolation between defined performance and payout levels. Additionally, a TSR performance modifier adjusts the ultimate payout by 20% (positively or negatively) if relative TSR results are in the top quartile or bottom quartile, respectively; payout is capped at 150%.

For PSAs granted in 2022, the three-year performance period ended December 31, 2024. Based on adjusted Company performance, as described below, our average ROTCE exceeded 13%, resulting in a payout of 150% of target for the absolute ROTCE portion of the award. The relative ROTCE portion was earned at 109% of target based on performance at the 55 th percentile. Our relative TSR for the performance period was at the 46 th percentile, so no modifier was applied. Based on this analysis, the HRC certified payout of 140 % of target for each of our NEOs.

Adjustments were made to both Company and peer performance results in accordance with Wells Fargo’s Long-Term Incentive Compensation Plan ( LTICP ) and applicable award agreement. For 2022, Company performance was adjusted for operating losses in the third and fourth quarters of 2022. For 2023 and 2024, Company performance was adjusted for the FDIC special assessment. In addition, pursuant to the terms of the offer letter, the ROTCE results for PSAs awarded to Mr. Scharf were also adjusted to exclude the impact of any penalties or other charges related to litigation, investigations, or examinations arising out of retail sales practices of the Company, or arising out of other material regulatory matters related to the conduct of the Company, in each case during