# EDGAR Filing Document

**Accession Number:** 0001081402
**File Stem:** 0001081402-26-000013
**Filing Date:** 2026-4
**Character Count:** 27133
**Document Hash:** 107880ed0deb25c97732b8aa3190ddf6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001081402-26-000013.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001081402-26-000013

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001081402

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-74283
- **FILM NUMBER:** 26886945

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4255

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allspring VARIABLE TRUST
- **DATE OF NAME CHANGE:** 20211206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO VARIABLE TRUST
- **DATE OF NAME CHANGE:** 19990308

## Series and Classes Contracts Data

### Allspring VT Opportunity Fund (Series ID: S000007227)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019825 | Class 2      |  |
| C000103128 | Class 1      |  |

---

| | |
|:---|:---|
| .![](su12644img001.jpg)  | Summary Prospectus<br>May 1, 2026 |

---

Allspring VT Opportunity Fund

Class 1 <u>*Link to Prospectus*</u> <u>*Link to SAI*</u>

*Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders and other information about the Fund online at allspringglobal.com/reports. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to AllspringFundsShareholders@allspringglobal.com. The current prospectus ("Prospectus") and statement of additional information("SAI"), dated May 1, 2026, as supplemented from time to time, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.*

**Investment Objective**

The Fund seeks long-term capital appreciation.

**Fees and Expenses**

These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund. These tables do not reflect any fees or other expenses imposed in connection with variable life insurance policies ("VLI Policies") or variable annuity contracts ("VA Contracts"). If they were reflected, the overall expenses would be higher than those shown.

---

| | |
|:---|:---|
| **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** |
| Maximum sales charge (load) imposed on purchases | None |
| Maximum deferred sales charge (load) | None |

---

---

| | |
|:---|:---|
| **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| Management Fees | 0.70% |
| Distribution (12b-1) Fees | 0.00% |
| Other Expenses | 0.13% |
| **Total Annual Fund Operating Expenses** | **0.83%** |
| Fee Waivers | (0.08)% |
| **Total Annual Fund Operating Expenses After Fee Waivers<sup>1</sup>** | **0.75%** |

---

1. The Manager has contractually committed through April 30, 2027, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waivers at 0.75% for Class 1. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. The Manager and/or its affiliates may also voluntarily waive all or a portion of any fees to which they are entitled and/or reimburse certain expenses as they may determine from time to time.

**Example of Expenses**

The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the example assumes that such waiver or reimbursement will only be in place through the date noted above. The example does not reflect any fees or other expenses imposed in connection with VLI Policies or VA Contracts and the amounts shown would be higher if such fees and expenses were included. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

------

---

| | |
|:---|:---|
| **AFTER:** |  |
| 1 Year | $77 |
| 3 Years | $257 |
| 5 Years | $453 |
| 10 Years | $1018 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30% of the average value of its portfolio.

**Principal Investment Strategies**

Under normal circumstances, we invest:

• at least 80% of the Fund's total assets in equity securities; and

• up to 25% of the Fund's total assets in equity securities of foreign issuers, including ADRs and similar investments.

We may invest in the equity securities of companies of any market capitalization.

We seek companies that we believe are underpriced yet offer attractive growth prospects. Our process begins with fundamental analysis to determine a company's private market valuation which is the price an informed investor might pay for the entire business. The analysis includes reviewing key financial metrics, competitive positioning, industry dynamics, and management quality. We compare this valuation to the public market price and invest where we see a significant gap. To complement our fundamental analysis, we incorporate systematic tools that provide additional insight into portfolio risk characteristics and factor exposures. We believe these tools enhance our decision-making by informing portfolio construction and supporting a balanced risk and return assessment over time. As part of our investment process, an assessment of environmental, social and governance (ESG) factors that are deemed to have material business and/or financial risk may be considered alongside other relevant factors. The ESG factors utilized in the Fund's investment process may change over time, some factors may not be relevant with respect to all stocks and may or may not be determinative in the security selection process.<br>We may sell a holding when its price no longer offers an attractive risk/reward, fundamentals deteriorate, or to manage risk and reallocate toward more attractive opportunities.

**Principal Investment Risks**

An investment in the Fund may lose money, is not a deposit of a bank or its affiliates, is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the risks briefly summarized below.

**Market Risk.** The values of, and/or the income generated by, securities held by the Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments.

**Equity Securities Risk.** The values of equity securities may experience periods of substantial price volatility and may decline significantly over short time periods. In general, the values of equity securities are more volatile than those of debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, political, and economic developments.

**Foreign Investment Risk.** Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

**Growth/Value Investing Risk.** Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.

**Management Risk.** Investment decisions, techniques, analyses or models implemented by a Fund's manager or sub-adviser in seeking to achieve the Fund's investment objective may not produce expected returns, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

------

**Smaller Company Securities Risk.** Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

**Performance**

The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of one or more indices. Past performance is no guarantee of future results. Current month-end performance is available on the Fund's website at allspringglobal.com.

The performance for the Fund does not reflect fees charged by VLI Policies or VA Contracts. If it did, returns would be lower.

---

| | | |
|:---|:---|:---|
| **Calendar Year Total Returns for Class 1 shares as of 12/31 each year**  | **Calendar Year Total Returns for Class 1 shares as of 12/31 each year**  | **Calendar Year Total Returns for Class 1 shares as of 12/31 each year**  |
| .![](su12644img003.jpg)  | &nbsp;&nbsp;&nbsp;**Highest Quarter:** <br>June 30, 2020 | +21.55% |
| .![](su12644img003.jpg)  | &nbsp;&nbsp;&nbsp;**Lowest Quarter:** <br>March 31, 2020 | -21.72% |
| .![](su12644img003.jpg)  | &nbsp;&nbsp;&nbsp;Year-to-date total return as of March 31, 2026 is -5.80% |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** |
|  | **INCEPTION DATE OF SHARE CLASS** | **1 YEAR** | **5 YEAR** | **10 YEAR** |
| Class 1 | 8/26/2011 | 7.00% | 9.22% | 12.13% |
| Russell 3000® Index (reflects no deduction for fees, expenses, or taxes) |  | 17.15% | 13.15% | 14.29% |

---

------

**Fund Management**

---

| | | |
|:---|:---|:---|
| **MANAGER** | &nbsp;&nbsp;**SUB-ADVISER** | &nbsp;&nbsp;**PORTFOLIO MANAGER, TITLE/MANAGED SINCE** |
| Allspring Funds Management, LLC | &nbsp;&nbsp;Allspring Global Investments, LLC | &nbsp;&nbsp;**Christopher G. Miller, CFA,** Portfolio Manager / 2017<br>**Robert Wicentowski, CFA,** Portfolio Manager / 2025 |

---

**Purchase and Sale of Fund Shares**

Shares of Allspring Variable Trust ("AVT") are not offered directly to the general public. The Trust currently offers its Fund shares to separate accounts of various life insurance companies as funding vehicles for certain VA Contracts and VLI Policies issued through the separate accounts by such life insurance companies. Many of the separate accounts are registered as investment companies with the SEC. AVT has entered into an agreement with the life insurance company sponsor of each separate account setting forth the terms and conditions pursuant to which the insurer will purchase and redeem shares of the Fund. Please refer to your VA Contract or VLI Policy prospectus for more information regarding the purchase and sale of your Fund shares.

**Tax Information**

For federal income tax purposes, the Fund is treated as a separate entity. The Fund intends to qualify each year as a "regulated investment company" under the Internal Revenue Code. By so qualifying, the Fund expects to have little or no liability for federal income taxes by distributing substantially all of its net investment income and net realized capital gains to the separate accounts each year. Please refer to the VA Contract or VLI Policy prospectus for additional information on tax matters.

**Payments to Insurance Companies**

Fund shares are available only through separate accounts issued by various life insurance companies. The Fund and its related companies may make payments to such insurance companies or their affiliates for distribution and administrative services. These payments may create a conflict of interest by influencing the insurance company to recommend the Fund over another investment. Consult your insurance company for more information about these payments.

<u>*Link to Prospectus*</u> <u>*Link to SAI*</u>

---

| | |
|:---|:---|
| .![](su12644img002.jpg) |©2026 Allspring Global Investments Holdings, LLC. All rights reserved.<br>SUM3020 05-26 |

---

---

| | |
|:---|:---|
| .![](su12637img001.jpg)  | Summary Prospectus<br>May 1, 2026 |

---

Allspring VT Opportunity Fund

Class 2 <u>*Link to Prospectus*</u> <u>*Link to SAI*</u>

*Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders and other information about the Fund online at allspringglobal.com/reports. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to AllspringFundsShareholders@allspringglobal.com. The current prospectus ("Prospectus") and statement of additional information("SAI"), dated May 1, 2026, as supplemented from time to time, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.*

**Investment Objective**

The Fund seeks long-term capital appreciation.

**Fees and Expenses**

These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund. These tables do not reflect any fees or other expenses imposed in connection with variable life insurance policies ("VLI Policies") or variable annuity contracts ("VA Contracts"). If they were reflected, the overall expenses would be higher than those shown.

---

| | |
|:---|:---|
| **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** |
| Maximum sales charge (load) imposed on purchases | None |
| Maximum deferred sales charge (load) | None |

---

---

| | |
|:---|:---|
| **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| Management Fees | 0.70% |
| Distribution (12b-1) Fees | 0.25% |
| Other Expenses | 0.13% |
| **Total Annual Fund Operating Expenses** | **1.08%** |
| Fee Waivers | (0.08)% |
| **Total Annual Fund Operating Expenses After Fee Waivers<sup>1</sup>** | **1.00%** |

---

1. The Manager has contractually committed through April 30, 2027, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waivers at 1.00% for Class 2. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. The Manager and/or its affiliates may also voluntarily waive all or a portion of any fees to which they are entitled and/or reimburse certain expenses as they may determine from time to time.

**Example of Expenses**

The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the example assumes that such waiver or reimbursement will only be in place through the date noted above. The example does not reflect any fees or other expenses imposed in connection with VLI Policies or VA Contracts and the amounts shown would be higher if such fees and expenses were included. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

------

---

| | |
|:---|:---|
| **AFTER:** |  |
| 1 Year | $102 |
| 3 Years | $336 |
| 5 Years | $588 |
| 10 Years | $1310 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30% of the average value of its portfolio.

**Principal Investment Strategies**

Under normal circumstances, we invest:

• at least 80% of the Fund's total assets in equity securities; and

• up to 25% of the Fund's total assets in equity securities of foreign issuers, including ADRs and similar investments.

We may invest in the equity securities of companies of any market capitalization.

We seek companies that we believe are underpriced yet offer attractive growth prospects. Our process begins with fundamental analysis to determine a company's private market valuation which is the price an informed investor might pay for the entire business. The analysis includes reviewing key financial metrics, competitive positioning, industry dynamics, and management quality. We compare this valuation to the public market price and invest where we see a significant gap. To complement our fundamental analysis, we incorporate systematic tools that provide additional insight into portfolio risk characteristics and factor exposures. We believe these tools enhance our decision-making by informing portfolio construction and supporting a balanced risk and return assessment over time. As part of our investment process, an assessment of environmental, social and governance (ESG) factors that are deemed to have material business and/or financial risk may be considered alongside other relevant factors. The ESG factors utilized in the Fund's investment process may change over time, some factors may not be relevant with respect to all stocks and may or may not be determinative in the security selection process.<br>We may sell a holding when its price no longer offers an attractive risk/reward, fundamentals deteriorate, or to manage risk and reallocate toward more attractive opportunities.

**Principal Investment Risks**

An investment in the Fund may lose money, is not a deposit of a bank or its affiliates, is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the risks briefly summarized below.

**Market Risk.** The values of, and/or the income generated by, securities held by the Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments.

**Equity Securities Risk.** The values of equity securities may experience periods of substantial price volatility and may decline significantly over short time periods. In general, the values of equity securities are more volatile than those of debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, political, and economic developments.

**Foreign Investment Risk.** Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

**Growth/Value Investing Risk.** Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.

**Management Risk.** Investment decisions, techniques, analyses or models implemented by a Fund's manager or sub-adviser in seeking to achieve the Fund's investment objective may not produce expected returns, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

------

**Smaller Company Securities Risk.** Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

**Performance**

The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of one or more indices. Past performance is no guarantee of future results. Current month-end performance is available on the Fund's website at allspringglobal.com.

The performance for the Fund does not reflect fees charged by VLI Policies or VA Contracts. If it did, returns would be lower.

---

| | | |
|:---|:---|:---|
| **Calendar Year Total Returns for Class 2 shares as of 12/31 each year**  | **Calendar Year Total Returns for Class 2 shares as of 12/31 each year**  | **Calendar Year Total Returns for Class 2 shares as of 12/31 each year**  |
| .![](su12637img003.jpg)  | &nbsp;&nbsp;&nbsp;**Highest Quarter:** <br>June 30, 2020 | +21.51% |
| .![](su12637img003.jpg)  | &nbsp;&nbsp;&nbsp;**Lowest Quarter:** <br>March 31, 2020 | -21.78% |
| .![](su12637img003.jpg)  | &nbsp;&nbsp;&nbsp;Year-to-date total return as of March 31, 2026 is -5.84% |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** | **Average Annual Total Returns for the periods ended 12/31/2025** |
|  | **INCEPTION DATE OF SHARE CLASS** | **1 YEAR** | **5 YEAR** | **10 YEAR** |
| Class 2 | 5/8/1992 | 6.71% | 8.94% | 11.85% |
| Russell 3000® Index (reflects no deduction for fees, expenses, or taxes) |  | 17.15% | 13.15% | 14.29% |

---

------

**Fund Management**

---

| | | |
|:---|:---|:---|
| **MANAGER** | &nbsp;&nbsp;**SUB-ADVISER** | &nbsp;&nbsp;**PORTFOLIO MANAGER, TITLE/MANAGED SINCE** |
| Allspring Funds Management, LLC | &nbsp;&nbsp;Allspring Global Investments, LLC | &nbsp;&nbsp;**Christopher G. Miller, CFA,** Portfolio Manager / 2017<br>**Robert Wicentowski, CFA,** Portfolio Manager / 2025 |

---

**Purchase and Sale of Fund Shares**

Shares of Allspring Variable Trust ("AVT") are not offered directly to the general public. The Trust currently offers its Fund shares to separate accounts of various life insurance companies as funding vehicles for certain VA Contracts and VLI Policies issued through the separate accounts by such life insurance companies. Many of the separate accounts are registered as investment companies with the SEC. AVT has entered into an agreement with the life insurance company sponsor of each separate account setting forth the terms and conditions pursuant to which the insurer will purchase and redeem shares of the Fund. Please refer to your VA Contract or VLI Policy prospectus for more information regarding the purchase and sale of your Fund shares.

**Tax Information**

For federal income tax purposes, the Fund is treated as a separate entity. The Fund intends to qualify each year as a "regulated investment company" under the Internal Revenue Code. By so qualifying, the Fund expects to have little or no liability for federal income taxes by distributing substantially all of its net investment income and net realized capital gains to the separate accounts each year. Please refer to the VA Contract or VLI Policy prospectus for additional information on tax matters.

**Payments to Insurance Companies**

Fund shares are available only through separate accounts issued by various life insurance companies. The Fund and its related companies may make payments to such insurance companies or their affiliates for distribution and administrative services. These payments may create a conflict of interest by influencing the insurance company to recommend the Fund over another investment. Consult your insurance company for more information about these payments.

<u>*Link to Prospectus*</u> <u>*Link to SAI*</u>

---

| | |
|:---|:---|
| .![](su12637img002.jpg) |©2026 Allspring Global Investments Holdings, LLC. All rights reserved.<br>SUM3222 05-26 |

---