secwatch.observer — SEC 8-K summary
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Issuer:     VISA INC. (V)
CIK:        0001403161
Form:       8-K
Filed at:   2023-06-29T23:59:59+00:00
Accession:  0001403161-23-000064
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Visa adjusts class B conversion rate after $500M litigation escrow deposit
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- Deposited $500M into U.S. litigation escrow on June 28, 2023.
- Class B conversion rate decreased from 1.5991 to 1.5902, effective June 28.
- As-converted class B share count reduced by ~2,195,424 shares.
- Adjustment has same EPS effect as repurchasing class A common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403161/000140316123000064/0001403161-23-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403161/000140316123000064/v-20230629.htm
  HTML page:      https://secwatch.observer/filing/0001403161-23-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer