Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 38

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 38
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 value, except for Series L Preferred Stock, may be redeemed for the liquidation preference value, plus any accrued but unpaid dividends, on any dividend payment date on or after the earliest redemption date for that series. Additionally, these same series of preferred stock may be redeemed following a “regulatory capital treatment event,” as described in the terms of each series. Capital actions, including redemptions of our preferred stock, may be subject to regulatory approval or conditions.In addition, we are authorized to issue 4 million shares of preference stock, without par value. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share.Table 9.1 summarizes information about our preferred stock.Table 9.1:  Preferred Stock March 31, 2025December 31, 2024(in millions, except shares)Earliest redemption dateShares authorizedand designatedShares issued and outstandingLiquidation preference valueCarryingvalue Shares authorizedand designatedSharesissued and outstandingLiquidation preference valueCarrying valueDEP SharesDividend Equalization Preferred Shares (DEP)Currently redeemable97,000 96,546 $— — 97,000 96,546 $— — Preferred Stock:Series L (1)7.50% Non-Cumulative Perpetual Convertible Class A—4,025,000 3,967,906 3,968 3,200 4,025,000 3,967,906 3,968 3,200 Series U5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A6/15/202580,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Series Y5.625% Non-Cumulative Perpetual Class ACurrently redeemable27,600 27,600 690 690 27,600 27,600 690 690 Series Z4.75% Non-Cumulative Perpetual Class ACurrently redeemable80,500 80,500 2,013 2,013 80,500 80,500 2,013 2,013 Series AA4.70% Non-Cumulative Perpetual Class A12/15/202546,800 46,800 1,170 1,170 46,800 46,800 1,