AGM/EGMApr 30, 2026, 04:48 PM
WFC Shareholders Approve Incentive Plan, Elect Directors
AI Summary
Wells Fargo & Company announced the results of its 2026 Annual Shareholder Meeting. Shareholders approved the amendment and restatement of the Company's 2022 Long-Term Incentive Plan, elected all 12 director nominees, and ratified KPMG LLP as the independent auditor for 2026. Additionally, the advisory vote on executive compensation passed, while six shareholder proposals, including those for an independent chair and majority vote governance, did not receive majority support.
Key Highlights
- Shareholders approved the amended 2022 Long-Term Incentive Plan with 95.93% of votes FOR.
- All 12 director nominees were elected, with Steven D. Black receiving 97.09% FOR votes.
- Shareholders approved executive compensation on an advisory basis with 65.53% of votes FOR.
- KPMG LLP was ratified as the independent registered public accounting firm for 2026 with 93.60% FOR votes.
- A shareholder proposal for an independent chair was rejected with 33.90% FOR votes.
- A shareholder proposal for majority vote governance was rejected with 47.94% FOR votes.
- A shareholder proposal on energy supply ratio was rejected with 20.36% FOR votes.
- A shareholder proposal on high-carbon financing litigation risk was rejected with 9.19% FOR votes.
Price Impact
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