01—Abstract
Summary
Summary of the 8-K filed February 25, 2026. Cited figures are marked; the original filing is the authoritative source.
Wells Fargo & Company (NYSE: WFC) announced in an 8-K filed February 25, 2026 that it will fully redeem its 3.90%a Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB, and all related depositary shares.
The redemption date is March 15, 2026, which shifts to March 16, 2026 because of a non-business day. The company will redeem 140,400 preferred shares at $25,000.00b per share and 3,510,000 depositary shares at $1,000.00 per depositary share, each representing a 1/25th interest in a preferred share. After the redemption, no Series BB preferred or depositary shares will remain outstanding.
The redemption prices exclude declared but unpaid dividends. Because the redemption date coincides with a regular dividend payment date, the quarterly dividend will be paid separately on the same shifted date to holders of record at the close of business on February 27, 2026. The company states that all regulatory requirements have been satisfied and that no covenant restricts the redemption.
Computershare Trust Company, N.A. is the redemption agent. For investors, this is a routine capital management event that retires a higher-cost perpetual preferred instrument and eliminates its ongoing dividend obligation.
The filing does not discuss the reasons for the redemption, its effect on capital ratios, or any replacement issuance. Holders should expect cash payment of the redemption price plus the separately paid March dividend, and should note that the filing itself contains no new financial results or guidance.
02—Key points
Key Highlights
- Full redemption of all 140,400 Series BB Preferred Shares at $25,000.00 per share, with no shares remaining outstanding afterward
- Redemption of 3,510,000 Series BB Depositary Shares at $1,000.00 per depositary share, each representing a 1/25 interest in a preferred share
- Redemption date of March 15, 2026, shifted to March 16, 2026 due to a non-business day
- Redemption prices exclude declared but unpaid dividends; the regular quarterly dividend is paid separately on the same shifted date to holders of record as of February 27, 2026
- The company states all regulatory requirements have been satisfied and no covenant restricts the redemption
- The 3.90% fixed-rate reset non-cumulative perpetual preferred stock is being retired, eliminating its ongoing dividend obligation
- Computershare Trust Company, N.A. is the redemption agent; payment to depositary share holders will be sent on the redemption date
03—Questions
Frequently Asked Questions
What is being redeemed and when?
Wells Fargo is redeeming all 140,400 outstanding shares of its 3.90% Series BB Non-Cumulative Perpetual Preferred Stock and all 3,510,000 related depositary shares. The redemption date is March 15, 2026, which moves to March 16, 2026 because March 15 is a non-business day.
How much will holders receive?
Holders of preferred shares will receive $25,000.00 per share, and holders of depositary shares will receive $1,000.00 per depositary share. These amounts do not include declared but unpaid dividends, which are paid separately.
Will holders still receive the quarterly dividend?
Yes. The regular quarterly dividend will be paid separately in the customary manner on March 16, 2026 (shifted from March 15), to holders of record at the close of business on February 27, 2026.
Does this redemption affect Wells Fargo's capital position or future plans?
The filing does not address the financial effects of the redemption, its impact on capital ratios, or whether the company plans to issue replacement preferred stock. Investors should review the company's subsequent filings and earnings materials for those details.
Are there any conditions or restrictions on the redemption?
The company states that all regulatory requirements have been satisfied and that no covenant remains in place that limits or prohibits the redemption.
04—Continue