Company: WFC-PC
Filing Date: 2025-06-18
Form Type: 11-K
Source: 0000072971-25-000160
Chunk: 5

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-06-18
Form: 11-K
Chunk 5
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’s vested Plan account. Each participant may elect to reallocate their plan account balance, including all or a portion of the participant’s account that is invested in the Wells Fargo ESOP Fund.

(e)

#### Payment of Benefits and Forfeitures
While employed, a participant may make withdrawals from his or her Plan account (as allowed under Plan provisions and IRS regulations). Certain restrictions associated with withdrawals, as described in the Plan, may be waived in the event a participant demonstrates financial hardship.

Upon termination of employment or disability (as defined by the Plan), a participant may elect to receive his or her vested Plan account balance as a lump sum, a partial lump sum distribution, or as periodic installment payments. Beneficiaries do not have the right to elect installment payments for distributions commencing on or after January 1, 2022. Prior to January 1, 2021, the option of installment payments was only available to participants who commenced installment payments prior to January 1, 2010. Certain participants with grandfathered benefits from plans merged into the Plan may also take their benefit as an annuity. Distributions from all funds are made in cash; however, a participant invested in the Company’s common stock may elect to receive shares of the Company’s common stock in-kind with the value of fractional shares paid in cash. If the participant’s balance is, or becomes less than $1,000, following termination, a distribution is made as a lump sum, unless the participant elects to roll over their account balance. Effective January 1, 2024, the plan was amended and restated to add a plan provision to permit automatic rollover to an IRA for plan participants who have a plan account balance of $7,000 or less, but greater than $1,000 following termination of employment, if the participant has not elected a lump sum or direct rollover.

When a participant terminates employment or becomes disabled, he or she is entitled to distribution of his or her total vested account balance. The nonvested portion is forfeited and serves to reduce future employer contributions, pay plan administrative expenses, or make corrective adjustments to participants’ accounts. Forfeitures used to offset employer contributions were $8,731,355 for the

<div align='center'>5 (Continued)</div>

#### WELLS FARGO & COMPANY 401(k) PLAN
<div align='center'>Notes to Financial Statements

December 31, 2024</div>

year ended December 31, 2024. The forfeiture account