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

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 19
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 identify areas for enhancement. Topics reviewed generally include Board performance and effectiveness, Board composition, Board leadership structure, and training and orientation. Our Board’s annual self-evaluation also is a component of its director nomination process and succession planning.

Designing the Evaluation Process

The GNC, in consultation with our independent Board Chair, reviews and determines the overall process, scope, and content of our Board’s annual self-evaluation process. The GNC has continued to enhance the Board’s self-evaluation process based on director feedback, best practices, experience, and regulatory expectations.

Third-Party Assistance

In 2024, we engaged a third party to facilitate the Board's self-evaluation.

Each year, the GNC considers whether to engage a third party to assist the Board in conducting its self-evaluation. The process for 2024 included individual interviews with each of the directors by the third-party facilitator, individual conversations with our independent Board Chair and each committee chair, and discussions of the results of the Board and committee self-evaluations with the Board.

Board Self-Evaluation Process

The following chart reflects the key components of the Board’s annual self-evaluation process.

| 1                                                                                                                                                                                                                                              |     | Board and Committee Self-Evaluation Survey Discussion Topics |     |                                                                                                                                                                                                                                                                            2 |     | One-on-One Director Discussions |     |   |     |                                                                                                                                                                                                                                                                                                             3 |     | Board and Committee Review of Feedback |     |                                                                                                                                                                                                                                                                                                                   4 |     | Feedback Communicated and Acted Upon |
| Board and committee self-evaluation survey discussion topics are reviewed annually, including in light of best practices and regulatory expectations, and approved by the GNC and sent to each director to request feedback on various topics. |     |                                                              |     | Individual meetings (typically with the independent Board Chair, the GNC Chair, or third-party facilitator, if applicable) are held with each director to obtain candid feedback about Board and committee performance, including the individual contributions of directors. |     |                                 |     |   |     | During Board and committee executive sessions, the independent Board Chair and the GNC Chair, or third-party facilitator, if applicable, lead a discussion of the results of the Board’s and the committees’ evaluations. Each committee chair leads a discussion of committee performance and effectiveness. |     |                                        |     | Any feedback for management is provided by the independent Board Chair and the GNC Chair, or third party, if applicable, on areas for improvement. Changes are implemented, as appropriate,