secwatch.observer — SEC 8-K summary
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Issuer:     VISA INC. (V)
CIK:        0001403161
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001403161-24-000035
Event type: other
Sentiment:  neutral
Materiality: 0.40
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403161/000140316124000035/0001403161-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403161/000140316124000035/v-20240710.htm
  HTML page:      https://secwatch.observer/filing/0001403161-24-000035

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