Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 17

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 17
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 funding risks, reputation risk, strategic risk, and risks related to environmental sustainability and climate change                                  
 Independence and Risk Expertise                                                                                                                                                                                                                                                                                                                                                                
 •Our Board has determined that each member of the Risk Committee is independent.                                                                                                                                                                                                                                                                                                               
 •The Federal Reserve’s Enhanced Prudential Standards for large U.S. bank holding companies require at least one member of the Risk Committee to have experience identifying, assessing, and managing risk exposures of large financial firms. Our Board has determined, in its business judgment, that directors Davis and Morris have large financial institution risk management experience. 
 •In addition, other members of the Risk Committee bring additional risk management experience in specific areas. For example, two members of the Risk Committee (Morris and Vautrinot) have experience in information security, cybersecurity, and technology.                                                                                                                                 |     |                                                     |

#### 2025 Proxy Statement29

#### Board and Governance Matters
The Bank Board

The board of directors of the Company’s principal banking subsidiary, Wells Fargo Bank, N.A. ( WFBNA ) is composed of directors Chancy, Craver, Davis (Chair), Morken, Morris, and Scharf. WFBNA’s board of directors (the Bank Board ) held eight regular meetings and one special meeting in 2024.

Compensation Committee Interlocks and Insider Participation

In 2024, Steven D. Black, Wayne M. Hewett, Maria R. Morris, and Ronald L. Sargent served as members of the HRC. During 2024, no member of the HRC was an employee, officer, or former officer of the Company. None of our executive officers served in 2024 on the board of directors or compensation committee (or other committee serving an equivalent function) of any entity that had an executive officer serving as a member of our Board or the HRC. As described under the Related Person Transactions section of this Proxy Statement, in 2024, some HRC members had banking or financial services transactions in the ordinary course of business with our banking and other subsidiaries.

Director Engagement

Board and Committee Meetings; Annual Meeting Attendance

Directors are expected to attend all Board meetings and meetings of committees on which they serve, and each annual shareholder meeting. All of our current directors attended our Company’s 2024 annual meeting.

Our Board held eight regular meetings and one special meeting during 2024. Attendance by our Board’s current directors at meetings of our Board and its committees (including subcommittees) averaged more than 99% during