Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 57

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 57
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 Internal Revenue Service ( IRS ) limits) during 2024.

NEOs and certain other highly compensated team members are also eligible to participate in our Deferred Compensation Plan. This plan provides for supplemental Company matching contributions for any compensation deferred into the plan in excess of the IRS limits that apply to the 401(k) Plan by participants, that otherwise would have been eligible for a matching contribution under our Company’s 401(k) Plan.

The HRC believes these programs are similar to, and competitive with, those offered by our Labor Market Peer Group. We provide information about the benefits under these plans in the Summary Compensation and Non-Qualified Deferred Compensation tables and related narrative.

Perquisites

The HRC has intentionally limited perquisites for our NEOs; however, the HRC has determined that certain physical and digital security measures are necessary to protect and promote our NEOs’ personal safety and efficiency. These measures include Mr. Scharf’s required use of Company aircraft and cars and drivers for certain travel. Mr. Scharf reimburses the Company for the incremental cost in excess of $200,000 for any personal use of the Company aircraft as well as the incremental costs associated with personal, non-commuting use of Company cars and drivers. The Company provides other NEOs with a one-time $50,000 allowance for residential physical and digital security enhancements and $5,000 annually for ongoing physical and digital security maintenance. Although the Company views these measures as necessary business expenses, in accordance with Securities and Exchange Commission requirements, the aggregate incremental cost of personal security benefits are included in the 2024 Summary Compensation Table . For additional information on such benefits provided in 2024, see footnote 8 to the 2024 Summary Compensation Table . The Company is considering further enhancements to its security program for NEOs for fiscal year 2025.

Other Compensation

As part of our efforts to attract and retain top executive talent, we may provide sign-on bonuses and buy-out equity awards for new hires. New hire sign-on bonuses and buy-out equity awards are an effective means of making up for compensation opportunities executives forfeit when they leave a former employer to join the Company. We typically require executives to return all or a portion of their sign-on bonus if, within a certain period after joining us, they voluntarily leave the Company or are involuntarily terminated by the Company for cause. New hire equity awards are used to incentivize executives to join without unnecessarily increasing annual compensation levels. These awards are generally subject to a time-based vesting period and such other terms and