Wells Fargo & Company Reports Designation and Sale of Series HH Preferred Stock Depositary Shares
Summary
Wells Fargo & Company designated its "6.55% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series HH" on August 17, 2026, via a Certificate of Designation (Ex. 3.1). Subsequently, on August 19, 2026, the Company sold 1,750,000 Depositary Shares, each representing a 1/25th interest in a share of the newly designated Series HH Preferred Stock. - 70,000 shares of Series HH Preferred Stock were authorized. - The Series HH Preferred Stock has a liquidation preference of $25,000 per share. - A Deposit Agreement was established with Computershare Trust Company, N.A. and Computershare Inc. as depositary (Ex. 4.1).
Why It Matters
This capital markets activity, involving the designation and sale of preferred stock depositary shares, impacts Wells Fargo & Company's capital structure and financing strategy, providing a new avenue for capital raising.
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Key Quote
“On August 19, 2026, the Company sold 1,750,000 Depositary Shares (the "Depositary Shares"), each Depositary Share representing a 1/25th interest in a share of the Company's Series HH Preferred Stock.”
— From Item 9.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000072971
- Filing Date
- Wednesday, August 19, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- medium
- Sentiment
- neutral