Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 39

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 39
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 talent, promotes effective risk management, and does not encourage imprudent or excessive risk-taking                                                                            
 •Generally not adjusted absent significant change in an NEO’s role and responsibilities                                                                                                                                             
 •Included as an input in our executive stock ownership policy where the minimum satisfactory ownership value our CEO and other NEOs are expected to acquire and maintain equals six times and three times base salary, respectively |
|                         |     | Annual Cash Bonus |     |                 |     |             |     | Cash                                                                                                                                                                     |     | •Rewards results and differentiates individual performance each year without creating incentive to take excessive risk                                                                                                              
 •The annual cash bonus comprises no more than 25% of variable compensation for CEO; 30% for other NEOs                                                                                                                              
 •The annual cash bonus is subject to recovery under the Company’s Clawback Policies, as applicable                                                                                                                                  |
| Long-Term Equity Awards |     |                   |     |                 |     | PSAs & RSRs |     | •Rewards performance over the long-term, creates a shared success culture, and aligns with sustained shareholder value                                                   
 •Comprises a large percentage of each NEO’s variable compensation (≥75% for CEO; 70% for other NEOs)                                                                     
 •PSAs cliff vest after a three-year performance period based on achievement of predetermined performance targets, and, if earned and vested, are settled in common stock 
 •RSRs time-vest over three years and, if earned and vested, are settled in common stock                                                                                  
 •Subject to stock ownership requirements, which strengthen executive retention, and align the long-term interests of NEOs with shareholders                              
 •Dividend equivalents are accrued on unvested PSAs and RSRs, but are paid only following vesting                                                                         
 •Subject to reduction, forfeiture, or clawback under the Company’s Clawback Policies, as applicable                                                                      |     |                                                                                                                                                                                                                                     |

#### 2025 Proxy Statement49

#### Executive Compensation
Performance Assessment and Variable Compensation Determination Process

2024 Process

The HRC assesses NEO performance through evaluation against pre-established financial and non-financial goals. This includes consideration of financial results and progress against strategic priorities, providing the flexibility to assess both quantitative and qualitative results. This process aligns variable compensation determinations with performance against the Company’s long-term value drivers and prudent risk oversight and provides the HRC with the ability to reduce an individual NEO’s performance achievement level for material failures in risk management, including but not limited to misconduct. The HRC believes that using a single