Visa to release ~$2.7B from preferred stock under Visa Europe litigation deed

VISA INC.

Third mandatory release assessment on June 21, 2024, reduces Series B and C Preferred Stock liability coverage.
Series B: $1.1B release; conversion adjustment reduction of 1.695; Class A common equivalent drops from 2.698 to 1.003.
Series C: $1.6B release; conversion adjustment reduction of 1.819; Class A common equivalent drops from 3.605 to 1.786.
On July 19, 2024, Visa will issue ~99,264 shares of Series A Preferred Stock to holders of Series B and C.

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