---
schema_version: "secwatch.filing_event.v1"
accession: "0000072971-24-000034"
form_type: "8-K"
ticker: "WFC"
cik: "0000072971"
company_name: "WELLS FARGO & COMPANY/MN"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:46:57.918587+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000072971-24-000034
- form_type: 8-K
- ticker: WFC
- cik: 0000072971
- company_name: WELLS FARGO & COMPANY/MN
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72971/000007297124000034/0000072971-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72971/000007297124000034/wfc-20240123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072971-24-000034
- JSON: https://secwatch.observer/filing/0000072971-24-000034.json
- Plain text: https://secwatch.observer/filing/0000072971-24-000034.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.