Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 28

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 28
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 employees, and the Company.                                                                                                            |

Performance management is a key facet of how we align our culture and Company expectations for our employees. Each year, managers and employees work together to set performance goals in support of enterprise strategy, business priorities, and their roles and responsibilities through the lens of strong risk management. At mid-year and year-end, managers and employees document and discuss key accomplishments and opportunities relative to performance goals, including risk management and overall performance.

Performance goals for employees and management whose roles involve sales activity are designed to discourage excessive or inappropriate risk-taking and are subject to additional oversight.

#### 2025 Proxy Statement39

#### Board and Governance Matters

### Management Succession Planning and Development
Wells Fargo’s talent and succession planning approach is focused on attracting, developing, and retaining executive talent with the leadership competencies needed to drive the transformational journey for Wells Fargo. One responsibility of our Board is to provide oversight to the talent and succession planning process, including review and discussion of the executive talent at our Company. The Board monitors and evaluates the performance of executive management, and holds executive management accountable for implementing the Company’s strategic plan, maintaining risk tolerance and the Company’s risk management framework.

The Board has assigned the HRC responsibility to oversee the Company’s talent and succession planning process, including the CEO evaluation and succession plan. The CEO and management annually report to the HRC and the Board on succession planning (including plans in the event of an emergency) and management development, and provide the HRC and the Board with an assessment of individuals considered potential successors to certain executive management positions.

The HRC and the Board engage in an annual talent and succession planning process through which they review and discuss potential executive management successors.

Annual Succession Planning Process

| 1 |     | Ongoing Interactions Between the CEO, Head of Human Resources and Board                                                                                                                                                                                                                                                    
 Management regularly identifies high-potential executives for additional responsibilities, new positions, promotions, or similar assignments to expose them to varied experiences within our Company, with the goal of developing well-rounded, experienced, and discerning senior leaders.                                |
| 2 |     | HRC Review of Reports from the CEO and Head of Human Resources                                                                                                                                                                                                                                                             
 Annually, the CEO and the Head of Human Resources prepare and evaluate management development and succession plans. The HRC reviews and discusses these plans with management, and reports to the Board on its reviews. The HRC conducts a review of Operating Committee succession plans and provides input and feedback. |
| 3 |     | Annual Board