Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 42

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 42
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,000 69,000 1,725 1,725 69,000 69,000 1,725 1,725 Series FF6.85% Fixed-Reset Non-Cumulative Perpetual Class A9/15/202980,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Total4,662,300 4,600,749 $17,376 16,608 4,742,300 4,680,752 $19,376 18,608 (1)At the option of the holder, each share of Series L Preferred Stock may be converted at any time into 6.3814 shares of common stock, plus cash in lieu of fractional shares, subject to anti-dilution adjustments. If converted within 30 days of certain liquidation or change of control events, the holder may receive up to 16.5916 additional shares, or, at our option, receive an equivalent amount of cash in lieu of common stock. We may convert some or all of the Series L Preferred Stock into shares of common stock if the closing price of our common stock exceeds 130 percent of the conversion price of the Series L Preferred Stock for 20 trading days during any period of 30 consecutive trading days. We declared dividends of $74 million on Series L Preferred Stock at both quarters ended September 30, 2025 and 2024.Table 9.2 presents our common stock shares outstanding.Table 9.2:  Common Stock Shares Outstanding Quarter ended September 30,Nine months ended September 30,(in millions)2025202420252024Balance, beginning of period3,220.4 3,402.7 3,288.9 3,598.9 Issued3.1 4.8 23.0 21.6 Repurchased(74.6)(62.0)(163.0)(275.0)Balance, end of period3,148.9 3,345.5 3,148.9 3,345.5 

88Wells Fargo & Company

Note 10:  Legal ActionsWells Fargo and certain of our subsidiaries are involved in a number of judicial, regulatory, governmental, arbitration, and other proceedings or investigations concerning matters arising from the conduct of our business activities, and many of those proceedings and investigations expose Wells Fargo to potential