Visa deposits $1.5B into litigation escrow, cuts class B conversion rates

VISA INC.

Deposited $1.5B into U.S. litigation escrow account on September 26, 2024.
Class B-1 conversion rate lowered from 1.5875 to 1.5653; B-2 from 1.5875 to 1.5430.
As-converted B-1 share count reduced by ~107,575 to 7,568,678; B-2 by ~5,354,510 to 185,685,595.
Adjustment has same EPS effect as repurchasing class A common stock.
Rates set using 13-day VWAP from September 24 to October 10, 2024.

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