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EX-99 - PRESS RELEASE - WELLS FARGO & COMPANY/MNdex99.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): May 3, 2011

 

 

WELLS FARGO & COMPANY

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-2979   No. 41-0449260

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

420 Montgomery Street, San Francisco, California 94163

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: 1-866-249-3302

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 6, 2011, Wells Fargo & Company (the “Company”) announced that Mark C. Oman, Senior Executive Vice President and Head of the Home and Consumer Finance Group, will retire from the Company before the end of 2011. The Company’s news release announcing Mr. Oman’s retirement is filed with this report as Exhibit 99 and incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders

The Company held its annual meeting of stockholders on May 3, 2011. At the meeting, stockholders elected all 14 of the directors nominated by the Board of Directors as each director received a greater number of votes cast “for” his or her election than votes cast “against” his or her election as reflected below. In addition, stockholders approved, on an advisory basis, the compensation of the Company’s named executives as disclosed in the Company’s 2011 proxy statement; voted, on an advisory basis, to have future votes on named executives’ compensation every year; and ratified the appointment of KPMG LLP as independent auditors for 2011. The stockholders did not approve the five stockholder proposals presented at the meeting. The final voting results for each item presented at the meeting are set forth below.

Election of Director Nominees

 

Director    For      Against      Abstentions      Broker
Non-Votes
 

John D. Baker II

     3,666,242,741         365,597,755         10,913,128         487,346,960   

John S. Chen

     3,961,291,779         70,903,879         10,557,872         487,347,054   

Lloyd H. Dean

     3,998,278,099         33,780,799         10,688,832         487,352,854   

Susan E. Engel

     3,951,366,910         71,354,332         10,026,288         497,353,054   

Enrique Hernandez, Jr.

     3,803,355,484         228,903,812         10,488,234         487,353,054   

Donald M. James

     3,657,137,668         375,023,017         10,586,845         487,353,054   

Mackey J. McDonald

     3,709,601,475         322,688,177         10,457,772         487,353,160   

Cynthia H. Milligan

     3,681,034,061         351,537,111         10,176,558         487,352,854   

Nicholas G. Moore

     3,998,071,946         34,224,421         10,451,363         487,352,854   

Philip J. Quigley

     2,820,825,414         1,211,177,726         10,740,609         487,356,835   

Judith M. Runstad

     3,991,004,410         41,753,744         9,989,576         487,352,854   

Stephen W. Sanger

     3,985,924,130         46,528,843         10,299,742         487,347,869   

John G. Stumpf

     3,896,825,674         136,029,538         9,892,318         487,353,054   

Susan G. Swenson

     3,853,375,592         179,213,203         10,156,435         487,355,354   

 

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Advisory Resolution to Approve the Named Executives’ Compensation

 

For   Against   Abstentions  

Broker

Non-Votes

3,899,294,197

  123,234,019   20,217,579   487,354,789

Advisory Proposal on the Frequency (Every 1, 2, or 3 Years) of Future Advisory Votes Regarding Named Executives’ Compensation

 

Every 1 Year   Every 2 Years   Every 3 Years   Abstentions  

Broker

Non-Votes

3,479,383,321

  33,201,808   514,059,669   16,115,164   487,340,622

In accordance with the Board of Directors’ recommendation and the voting results on this advisory proposal, the Company will hold an annual advisory vote on the compensation of its named executives.

Ratify the Appointment of KPMG LLP as Independent Auditors for 2011

 

For   Against   Abstentions  

Broker

Non-Votes

4,441,476,997

  77,151,995   11,471,592   0

Stockholder Proposal Regarding an Amendment to the Company’s By-Laws to Allow Holders of 10% of the Company’s Common Stock to Call Special Meetings of Stockholders

 

For   Against   Abstentions  

Broker

Non-Votes

1,753,832,185

  2,271,863,251   17,046,479   487,358,669

Stockholder Proposal to Provide for Cumulative Voting in Contested Director Elections

 

For   Against   Abstentions  

Broker

Non-Votes

1,161,197,347

  2,846,741,175   34,798,602   487,363,460

Stockholder Proposal Regarding the Adoption of a Policy to Require an Independent Chairman

 

For   Against   Abstentions  

Broker

Non-Votes

1,205,318,876

  2,821,990,291   15,422,024   487,369,393

Stockholder Proposal Regarding an Advisory Vote on Director Compensation

 

For   Against   Abstentions  

Broker

Non-Votes

195,690,433

  3,629,404,269   217,613,344   487,392,538

Stockholder Proposal Regarding an Investigation and Report on Internal Controls for Mortgage Servicing Operations

 

For   Against   Abstentions  

Broker

Non-Votes

852,358,218

  2,889,837,716   300,527,716   487,376,934

 

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Item 9.01 Financial Statements and Exhibits

 

  (d) Exhibits

 

99    Press Release issued May 6, 2011

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  WELLS FARGO & COMPANY
DATED: May 6, 2011  

/s/ Laurel A. Holschuh

  Laurel A. Holschuh
  Senior Vice President and Secretary

 

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