Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 59

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 59
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 Independent Compensation Consultant                                                                                                                         
 •Provides independent advice on executive compensation matters                                                                                                          
 •Advises on design and disclosure of compensation elements                                                                                                              
 •Reviews the executive compensation program with the HRC and as compared to those of the Labor Market Peer Group                                                        
 •Advises the HRC on the reasonableness of the compensation levels compared to the Labor Market Peer Group                                                               
 •Advises the HRC on the appropriateness of the executive compensation program structure in supporting strategic priorities and in consideration of shareholder feedback |     |                                                                                                                                                                                                                                                                       |     | Role of Executive Management                                                                                                           
 •NEOs set goals tailored to their area of responsibility with a focus on supporting broader Company goals                              
 •CEO evaluates other NEOs’ individual performance and makes recommendations regarding base salary and variable compensation to the HRC 
 •CRO assesses risk performance for NEOs other than the CEO, as input into evaluations by the CEO and the HRC                           
 •Provide reporting to the HRC in support of their oversight responsibilities                                                           
 •Escalate issues or concerns to the HRC, as needed                                                                                     |

#### 72Wells Fargo & Company

#### Executive Compensation
Independent Compensation Consultant

The HRC is authorized to retain and obtain advice of legal, accounting, or other advisors at the Company’s expense without prior management or Board approval. For 2024, the HRC retained an independent compensation consultant, Meridian, to provide independent advice on executive compensation matters and advise on the design and disclosure of the compensation elements.

On an annual basis, the HRC reviews the services performed by, and the fees paid to, Meridian. Upon conducting this review, the HRC determined that Meridian does no other work for our Company or management other than to provide consulting services to the GNC, HRC, and Board that are directly related to employee and non-employee director compensation. To help maintain the independence of any consultant retained by the HRC, the HRC is required under its charter to pre-approve all services performed for our Company by Meridian, other than the services performed for the GNC with respect to non-employee director compensation. The HRC assessed Meridian’s independence considering the NYSE listing standards and SEC rules and concluded that no conflict of interest or independence concerns exist.

Compensation Committee Report

In its capacity as the compensation committee of our Board, the HRC has reviewed and discussed with management the CD&A that immediately precedes this report. Based on this review and these discussions, the HRC has