Visa releases ~$1.4B from Preferred Stock; reduces conversion ratios, issues Series A shares

VISA INC.

Release of ~$1.4B from Series B and C Preferred Stock in fourth mandatory assessment tied to Visa Europe litigation.
Series B: Liability Coverage Reduction of ~$287M, conversion adjustment reduction of 0.327, Class A Common Equivalent Number drops from 0.996 to 0.669.
Series C: Liability Coverage Reduction of ~$1.1B, conversion adjustment reduction of 1.019, Class A Common Equivalent Number drops from 1.783 to 0.764.
Effective Aug 18, 2025: Visa to issue ~40,080 shares of Series A Preferred Stock to holders, convertible to Class A common.

item 3.02

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