Company: WFC-PC
Filing Date: 2025-08-26
Form Type: S-3/A
Source: 0001193125-25-188722
Chunk: 111

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-26
Form: S-3/A
Chunk 111
---
 on which dividends likewise have not been paid, will have the right to elect two directors in addition to the directors then in office at our next annual meeting of shareholders. When dividends have been paid in full on the Series L preferred stock and any and all voting parity stock for at least four consecutive dividend periods or their equivalent, then the right of the holders of our Series L preferred stock to elect directors shall cease (but subject always to revesting of such voting rights in the case of any future nonpayment of dividends), and, if and when all rights of holders of our Series L preferred stock and voting parity stock to elect directors shall have ceased, the terms of office of all the directors elected by preferred stock holders under this provision shall forthwith terminate and the number of directors constituting the board of directors shall automatically be reduced accordingly. So long as any shares of our Series L preferred stock are outstanding, the vote or consent of the holders of at least 66 2/ 3% of the shares of our Series L preferred stock at the time outstanding, voting as a class with all other series of preferred stock ranking equally with the Series L preferred stock and entitled to vote thereon, given in person or by proxy, either in writing without a meeting or by vote at any meeting called for the purpose, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

| ● |     | any amendment, alteration or repeal of any provision of our restated certificate of incorporation, as amended                                                                                                
 (including the certificates of designations creating the Series L preferred stock) or our by-laws that would alter or change the voting powers, preferences or special rights of the holders of the Series L 
 preferred stock so as to affect them adversely;                                                                                                                                                              |

| ● |     | any amendment or alteration of our restated certificate of incorporation, as amended, to authorize or create, or                                                                                                                                
 increase the authorized amount of, or any issuance of any shares of, or any securities convertible into shares of, any class or series of our capital stock ranking prior to the Series L preferred stock in the payment of dividends or in the 
 distribution of assets on our liquidation, dissolution or winding up; or                                                                                                                                                                        |

| ● |     | the consummation of a binding share exchange or reclassification involving the Series L preferred stock or a                                                                                                                                       
 merger or consolidation with another entity, except holders of our Series L preferred stock will have no right to vote under this provision or otherwise under