secwatch.observer — SEC 8-K summary
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Issuer:     VISA INC. (V)
CIK:        0001403161
Form:       8-K
Filed at:   2024-10-11T23:59:59+00:00
Accession:  0001403161-24-000050
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403161/000140316124000050/0001403161-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403161/000140316124000050/v-20241011.htm
  HTML page:      https://secwatch.observer/filing/0001403161-24-000050

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