secwatch.observer — SEC 8-K summary
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Issuer:     VISA INC. (V)
CIK:        0001403161
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0001403161-23-000085
Event type: litigation
Sentiment:  neutral
Materiality: 0.35
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Visa deposits $150M into litigation escrow, adjusts class B conversion rate
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- Deposit of $150M into U.S. litigation escrow account under retrospective responsibility plan.
- Class B to class A conversion rate reduced from 1.5902 to 1.5875, effective Sept 28, 2023.
- As-converted class B share count decreased by ~649,210 to 389,756,630 shares.
- Conversion adjustment has same EPS effect as repurchasing class A common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403161/000140316123000085/0001403161-23-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403161/000140316123000085/v-20230928.htm
  HTML page:      https://secwatch.observer/filing/0001403161-23-000085

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