Company: WFC-PC
Filing Date: 2025-06-18
Form Type: 11-K
Source: 0000072971-25-000160
Chunk: 10

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-06-18
Form: 11-K
Chunk 10
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 the issuer’s determination that the agreement constitutes a nonexempt prohibited

<div align='center'>8 (Continued)</div>

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

December 31, 2024</div>

transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Stable Value Fund will receive the fair value as of the date of termination. Each contract recognizes certain “events of default” which can invalidate contracts’ coverage. Among these are investments outside of the range of investments which are permitted under the investment guidelines contained in the investment contract, fraudulent or other material misrepresentations made to the investment contract provider, changes of control of the investment adviser not approved by the contract issuer, changes in certain key regulatory requirements, or failure of the Plan to be tax qualified.

Security‑backed contracts also generally provide for withdrawals associated with certain events, which are not in the ordinary course of Plan operations. These withdrawals are paid with a market value adjustment applied to the withdrawal as defined in the investment contract. Each contract issuer specifies the events, which may trigger a market value adjustment; however, such events may include, but not limited to, the following:

• material amendments to the Plan’s structure or administration;

• complete or partial termination of the Plan, including a merger with another plan;

• the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA;

• withdrawals due to the removal of a specifically identifiable group of employees from coverage under the participating plan (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit, or affiliate, the bankruptcy or insolvency of a plan sponsor, the merger of the Plan with another plan, or the Plan sponsor’s establishment of another tax qualified defined contribution plan;

• any change in law, regulation, ruling, administrative or judicial position, or accounting requirement, applicable to the Plan or participating plans; and

• the delivery of any communication to Plan participants designed to influence a participant not to invest in the Plan.

At this time, the Stable Value Fund manager does not believe that the occurrence of any such market value event, which would limit the Plan’s ability to transact at contract value with participants, is probable.

(iv)

#### Wrapper Contract Fees
The Stable Value Fund pays wrapper contract fees to the security-backed contract issuers to