Company: WFC-PC
Filing Date: 2025-08-26
Form Type: S-3/A
Source: 0001193125-25-188722
Chunk: 207

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-26
Form: S-3/A
Chunk 207
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 under “—Sale or Other Taxable Dispositions of Common or Preferred Stock” above, except that an amount received in respect of declared but unpaid dividends generally will be taxable as a dividend if we have sufficient current or accumulated earnings and profits, as described above under “—Distributions.” A redemption will be treated as a sale or exchange if it:

| ● |     | results in a complete termination of a U.S. Holder’s interest in us, |

| ● |     | is “substantially disproportionate” with respect to a U.S. Holder, or |

| ● |     | is not “essentially equivalent to a dividend” with respect to a U.S. Holder, all within the meaning of 
 Section 302(b) of the Code and applicable Treasury regulations.                                        |

In determining whether any of these tests has been met, shares of common or preferred stock deemed owned by a U.S. Holder by reason of certain constructive ownership rules under the Code, as well as shares actually owned by such U.S. Holder, must be taken into consideration. A redemption of shares of common and preferred stock held by a U.S. Holder generally will qualify for sale or exchange treatment if the U.S. Holder does not own (actually or constructively) any shares of any classes of our common or preferred stock following the redemption; or if the U.S. Holder owns (actually or constructively) only an insubstantial percentage of our common or preferred stock, such the redemption has the effect of decreasing such ownership percentage; and the U.S. Holder does not participate in our control or management. However, the determination as to whether any of the tests under Section 302(b) of the Code will be satisfied with respect to any particular U.S. Holder depends upon the facts and circumstances at the time of the redemption. If a redemption of shares of common or preferred stock is treated as a distribution, the entire amount received will be taxable as described under the caption “—Distributions” above. U.S. Holders should consult their tax advisors regarding the effect of such transaction on the tax basis of any remaining shares of common or preferred stock held by such holders immediately after the redemption. Prospective investors should consult their own tax advisors for purposes of determining the tax consequences resulting from redemption of shares of common or preferred stock in their particular circumstances. Terms of Preferred Stock.The U.S. federal income tax consequences of the purchase, ownership or disposition of preferred stock will depend on a number of factors, including the specific terms of the preferred stock (such