other material
confidence high
sentiment neutral
materiality 0.45
Visa deposits $125M into litigation escrow; adjusts B-1/B-2 conversion rates
VISA INC.
- $125M deposited into U.S. litigation escrow under retrospective responsibility plan.
- Class B-1 conversion rate decreased from 1.5491 to 1.5475; B-2 from 1.5108 to 1.5075.
- As-converted B-1 shares reduced by ~7,880 to 7,482,834; B-2 by ~392,202 to 181,412,788.
- Adjustment has same effect on EPS as repurchasing class A common stock.