Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 89

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 89
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-supported shareholder proposal, in 2024 we proposed amendments to remove our two remaining supermajority voting standards. The proposed first amendment opting out of Delaware General Corporation Law Section 203 passed and has since been implemented. The second proposal to amend the “local directors” provision of our By-Laws did not receive the requisite level of approval, despite our enhanced outreach efforts. We shared these results with the 2023 proponent. We have determined that it is not in the best interests of shareholders to re-propose the By-Law amendment at this time, based on the provision’s limited applicability, the Board’s demonstrated commitment to taking steps necessary to remove the remaining supermajority voting standards, shareholder feedback, and the significant resources required to present the proposal, despite the low likelihood of success due to the high approval threshold.

#### 96Wells Fargo & Company

#### Shareholder Proposals
| Item 4                                                                                        |
| Shareholder Proposal – Annual Report on Prevention of Workplace Harassment and Discrimination |
| Our Board recommends that you voteAGAINSTthis proposal.                                       |

The Comptroller of the State of New York, Thomas P. DiNapoli, Trustee of the New York State Common Retirement Fund, 110 State Street, 14th Floor, Albany, NY 12236, the holder of 5,045,609 shares of our common stock, has advised us that he intends to introduce the following resolution at the 2025 Annual Meeting:

Resolution and Supporting Statement

Resolved:

Shareholders request the Board of Directors oversee the preparation of an annual public report describing and quantifying the effectiveness and outcomes of Wells Fargo’s efforts to prevent harassment and discrimination against its protected classes of employees. In its discretion, the Board may wish to consider including disclosures such as the:

• total number and aggregate dollar amount of disputes settled by the company related to abuse, harassment or discrimination in the previous three years;

• total number of pending harassment or discrimination complaints the company is seeking to resolve through internal processes, arbitration or litigation;

• aggregate dollar amount associated with the enforcement of arbitration clauses;

• number of enforceable contracts which include concealment clauses that restrict discussions of harassment or discrimination, and

• aggregate dollar amount associated with agreements which contain concealment clauses.

Concealment clauses are defined as any employment or postemployment agreement, such as arbitration, nondisclosure or nondisparagement agreements, that the Company asks employees to sign which would limit their ability to discuss unlawful acts in the workplace, including harassment and discrimination.