Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 31

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 31
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 more information, see 2024 Say on Pay Vote and Shareholder Engagement .

Wells Fargo continues to make progress on our multi-year transformation journey. We remain focused on our top priority of building a risk and control infrastructure appropriate for a company of our size and complexity. The scale and volume of the work is complex, and we are proud of the continued progress that we have made over the past few years.

Success requires that we pay for performance, promote effective risk management, and attract and retain talent. The HRC accomplishes these objectives by overseeing an executive compensation program and the underlying variable compensation strategies that are grounded in and reflective of shareholder feedback and our Labor Market Peer Group practices. The HRC further enhances the effectiveness of our variable compensation strategies through oversight and governance reflecting our commitment to integrating sound risk management disciplines as part of the performance management assessment and compensation determination processes.

The 2024 Say on Pay advisory vote on executive compensation received approximately 92.7% support, reflecting shareholder support of the HRC’s decisions on variable incentive compensation design. The majority of our executives’ total compensation is delivered in the form of long-term equity, consisting of PSAs and restricted share rights ( RSRs ), as detailed within the CD&A. Our executive compensation program is designed to hold our executives accountable for all aspects of the Company’s performance, including making progress towards the risk and control work which is the top priority for Wells Fargo, while continuing to deliver strong financial returns for our shareholders and supporting our customers, clients, and employees.

#### 2025 Proxy Statement43

#### Executive Compensation
| What We Do                                                                                                                                                                          |     | What We Don’t Do                                                                                                                                                               |
| Incentive compensation is variable and “at-risk” and equity compensation covers multi-year vesting periods                                                                          |     | No cash dividends on unearned RSRs and PSAs                                                                                                                                    |
| Focus on risk management and risk outcomes                                                                                                                                          |     | No pledging of Company securities by directors or executive officers under the Board’s Corporate Governance Guidelines                                                         |
| Overall performance evaluated through a rigorous performance assessment framework                                                                                                   |     | No executive employment agreements                                                                                                                                             |
| Engage independent compensation consultant                                                                                                                                          |     | No tax gross-ups for NEOs                                                                                                                                                      |
| Strong and independent Board oversight through the Board’s HRC                                                                                                                      |     | No additional retirement benefits or additional years of credited service other than investment or interest credits provided under applicable pension plans since July 1, 2009 |
| Recoupment policies provide for clawback and forfeiture of compensation in