Reload Stock Option Grants
A reload stock option grant is a feature that may be part of Long-Term Incentive Compensation Plan (LTICP) stock options awarded before 2004. If the grant you are exercising has a reload feature, and you exercise the option by swapping previously owned shares of Wells Fargo stock for the exercise price, you are granted a reload option for the number of shares you swapped and the related tax and withholding. These additional stock option grants have an exercise price equal to the fair market value of Wells Fargo stock on the exercise date. Effective February 28, 2007, the fair market value of Wells Fargo’s stock on the exercise date changed from the prior trading day’s close to the closing price on the day of exercise. Your reload option stays in effect for the remaining term of the original option grant.

Reload options work a lot like original options, except, if you do a swap exercise on a reload option you don't receive another reload option. No reload options are granted if you exercise your option after termination, retirement, or permanent disability. No reload options are granted to a beneficiary of stock options.

Participants who choose to exercise via stock swap and hold their shares continue to benefit from any future appreciation on the swapped stock.

Reloads Not Part of All LTICP Grants
A reload is an additional option you receive when you exercise a stock option grant by swapping previously owned shares. The reload feature does not apply to all stock option grants — only to those with a reload provision. Reloads are not a feature of awards granted after 2003.