Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 37

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 37
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 to drive superior long-term Company performance. |

The HRC oversees the design and administration of our executive compensation program, which includes a rigorous and iterative assessment process that takes place throughout the year. The HRC relies on these three executive compensation principles outlined above to guide its pay for performance philosophy, as further described below. The HRC also carefully considers input from its independent advisor, Meridian Compensation Partners ( Meridian ), and the feedback received from our shareholders.

Our Compensation Philosophy

Our compensation philosophy reflects and reinforces our executive compensation principles. It is embedded in the design and oversight of our executive compensation program, specifically:

| Providing a Competitive Opportunity        |     | Providing a compelling total compensation opportunity consisting of fixed and variable compensation strongly tied to our long-term success in order to attract, motivate, and retain talent                                            |
| Balancing Short- and Long-Term Performance |     | Structuring total variable compensation opportunities that are determined annually based on our performance, emphasizing long-term equity awards with future values that will be determined by our success                             |
| Understanding the Market                   |     | Relying on Labor Market Peer Group compensation policies and practices as inputs in our planning processes without benchmarking any single compensation element or total compensation to a specific target peer percentile or pay rank |
| Being Transparent to our Shareholders      |     | Being transparent to our shareholders in the design, administration, and oversight of our executive compensation program, as appropriate                                                                                               |
| Requiring Stock Ownership                  |     | Requiring our NEOs to hold a meaningful equity stake in the Company, aligning their interests with long-term shareholder interests and providing long-term accountability for effectively managing risk                                |
| Limiting Executive Perquisites             |     | No excessive perquisites or personal benefits for NEOs                                                                                                                                                                                 |
| Emphasizing Risk Balancing Features        |     | Emphasizing risk balancing features embedded throughout our executive compensation program, including but not limited to theClawback Policies,as applicable                                                                            |
| Exercising Good Governance Practices       |     | Exercising good governance practices to guide the Board and the HRC in their oversight of all matters pertaining to our executive compensation program for our CEO and other NEOs, respectively                                        |

#### 2025 Proxy Statement47

#### Executive Compensation
Peer Groups

The HRC relies on two peer groups, the Labor Market Peer Group and the Financial Performance Peer Group, in its oversight of our executive compensation program. While several companies are included in both peer groups, each peer group serves a separate and distinct purpose.

• The Labor Market