Wells Fargo Board Approves CEO Charles Scharf's $29 Million Compensation for 2023

WELLS FARGO & COMPANY/MN

Board approved CEO Scharf's total compensation of $29 million for 2023, flat to adjusted 2022 amount.
Scharf requested negative discretion to reduce compensation from $30.3 million under the program.
Compensation includes $2.5 million base salary and $26.5 million variable (65% Performance Shares, 35% Restricted Share Rights).
Board cited Scharf's leadership in improving financial performance, risk controls, and supporting during 2023 banking crisis.

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