Wells Fargo & Company · NYSE:WFC
Wells Fargo & — Shareholder Meeting (March 2019)
17 slides from Wells Fargo &'s shareholder meeting presentation, Mar 18, 2019
Slide 1: Wells Fargo – Transforming for the Future
Wells Fargo – Transforming for the Future March 2019 © 2019 Wells Fargo Bank, N.A. All rights reserved. This presentation may be used when meeting with investors from time to time in connection with the Company’s upcoming annual meeting of shareholders scheduled to be held on April 23, 2019.
Slide 2: The Vision, Values & Goals of Wells Fargo
Our Vision We want to satisfy our customers’ financial needs and help them succeed financially. Our Values What’s right for customers People as a competitive advantage Ethics Diversity and inclusion Leadership Our Goals We want to become the financial services leader in these areas: Customer service
Slide 3: Our Business, Strategy, and Goals
Our Business, Strategy, and Goals Wells Fargo is a diversified, community-based financial services company, with $1.9 trillion in assets and approximately 260,000 team members working to serve one in three households in the United States. Consumer Banking Payments, Virtual Solutions, and Innovation
Slide 4: Diverse and Skilled Director Nominees
Diverse and Skilled Director Nominees Our director nominees represent a highly qualified and diverse mix of directors who bring qualifications, skills, and experience relevant to Wells Fargo’s business, strategy, risk profile, and risk appetite. John D. Baker II Celeste A. Clark Theodore F. Craver,
Slide 5: Board-led Engagement Informs Governance Enhancements
Board-led Engagement Informs Governance Enhancements Over the past two years, the Board has made changes to enhance its composition, oversight, and governance practices which were informed by the Board’s comprehensive self-evaluation of Board performance and effectiveness and feedback provided by ou
Slide 6: Board Priorities
Board Priorities The Board is focused on making progress across key priorities as we work to transform Wells Fargo, meet the expectations of our regulators, and rebuild trust with our stakeholders. Meeting Regulatory Expectations Satisfying regulatory expectations and the requirements of the Company
Slide 7: Culture and Human Capital Management
Culture and Human Capital Management Our Board and its Human Resources Committee oversee our efforts to strengthen and monitor our culture. In 2018, we introduced new behavioral expectations for all team members through a common leadership objective, with additional leadership expectations for manag
Slide 8: Business Standards Report – Learning from the Past, Transforming for the Future
Business Standards Report – “Learning from the Past, Transforming for the Future” Wells Fargo issued its Business Standards Report in January 2019 as part of our commitment to transparency and ongoing work to rebuild trust with stakeholders. The Business Standards Report, “Learning from the past, tr
Slide 9: 2018 Executive Compensation Program Overview
2018 Executive Compensation Program Overview Compensation program reflects our compensation principles: Pay for Performance; Attract and Retain Top Executive Talent; Foster Risk Management Culture; and Encourage Long-Term Shareholder Value Creation. Pay Element 2018 Form Key Metrics Purpose Base Sal
Slide 10: Annual Incentive Performance Objective Framework
Performance is based on Company results taking into account: Quantity - financial outcomes Quality - consistency with strategic plan and risk appetite Degree of difficulty - accounting for environmental factors Execution of key initiatives Effective Management and Business Performance Effective Mana
Slide 11: 2018 CEO Compensation Decisions
2018 CEO Compensation Decisions The Board’s and the Human Resources Committee’s CEO compensation decisions reflect our core compensation principles, company performance, and our progress in 2018. 2018 Amount and % of Pay Substantial portion of CEO pay in the form of long-term, performance-based equi
Slide 12: Compensation Is Aligned with Performance and Promotes Accountability
Continued Enhancements to Performance Conditions and Forfeiture Provisions in Equity Awards Executive Accountability Actions Taken by our Board and the HRC $180 million total impact Compensation Is Aligned with Performance and Promotes Accountability The Board and the HRC have established a program
Slide 13: Approve Amended and Restated Long-Term Incentive Compensation Plan Share Increase
Item 3 – Approve the Company’s Amended and Restated Long-Term Incentive Compensation Plan Share Increase 200 million shares Estimated to allow for the grant of equity awards over the next four to five years Plan Extension 10 years subject to share limitations Other Best Practice Changes Accumulated
Slide 14: Shareholder Proposals: Proposal 5
Shareholder Proposals Our Board recommends that you vote AGAINST proposal 5 Our Company already undertakes incentive compensation risk reviews responsive to the proposal’s concerns through its Incentive Compensation Risk Management (ICRM) program. The Board’s Human Resources Committee oversees the I
Slide 15: Shareholder Proposals: Proposal 6
Shareholder Proposals Our Board recommends that you vote AGAINST proposal 6 Consistent with our core values, we promote diversity and inclusion in every aspect of our business and strive to attract, develop, and retain team members by paying them fairly and competitively. We apply our pay practices
Slide 16: Cautionary Statement About Forward-looking Statements
Cautionary Statement About Forward-looking Statements Forward looking statement disclaimer This presentation may contain forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding
Slide 17: Thank you
WELLS FARGO Thank you
Wells Fargo & Company — Shareholder Meeting (March 2019) on 6ix