Timothy Murphy
Timothy Murphy, age 59, Vice Chair, will retire from Mastercard in October 2026.
Highest-materiality recent filing
Mastercard shareholders elect 11 directors, approve exec compensation, defeat two proposals
All 11 director nominees elected; highest vote was Youngme Moon (738.7M for), lowest was Julius Genachowski (660.1M for).
Mastercard completes $5B multi-tranche debt offering
Issued $500M Floating Rate Notes due 2028, $1.25B 4.325% Notes due 2028, $1.15B 4.425% Notes due 2029, $1.35B 4.600% Notes due 2031, $750M 5.000% Notes due 2036.
Ling Hai appointed CFO effective Aug 3, 2026; receives $850K base salary, 150% target bonus, $1.5M LTI RSU.
Mastercard names Chris Mullett as Corporate Controller; Arkell to Chief Audit Executive
Sandra Arkell will step down as Corporate Controller and principal accounting officer to become Chief Audit Executive, effective August 3, 2026.
Mastercard Q1 2026: net income $3.9B, EPS $4.35; revenue $8.4B +16% YoY
GAAP net income $3.9B, diluted EPS $4.35; adjusted net income $4.1B, adjusted EPS $4.60.
CFO Sachin Mehra base salary raised to $875,000 from $825,000; bonus target increased to 175% of base.
Mastercard Q4 net revenue $8.8B (+18% YoY); adj. EPS $4.76
Q4 GAAP diluted EPS $4.52; adjusted diluted EPS $4.76 (vs $3.82 prior year).
Mastercard enters $8B revolving credit facility maturing 2030, replacing prior facility
New $8B five-year unsecured revolving credit facility expires November 7, 2030.
Mastercard settles merchant class action with Visa; 10 bps interchange cut, 5-year cap
10 bps reduction in average systemwide effective interchange rate on U.S.-issued consumer & commercial credit transactions at U.S. merchants.
Mastercard Q3 GAAP EPS $4.34, adjusted $4.38; revenue $8.6B +17% YoY
Net income $3.9B ($4.34 diluted EPS); adjusted net income $4.0B ($4.38 adjusted diluted EPS).
Mastercard Q2 revenue $8.1B (+17% YoY), EPS $4.07, adjusted $4.15
Q2 GAAP net income $3.7B; diluted EPS $4.07 (up 16% YoY); adjusted EPS $4.15.
Amendments limit officer liability under Delaware law and eliminate all Industry Director provisions; effective June 25, 2025.
Mastercard Q1 net income $3.3B, diluted EPS $3.59; revenue up 14% YoY
Net revenue $7.3B, up 14% (17% currency-neutral); payment network revenue +13%.
Mastercard closes $1.25B note offering across three tranches due 2028 and 2032
Issued $300M floating rate notes due 2028, $450M 4.550% notes due 2028, $500M 4.950% notes due 2032.
Mastercard appoints Tim Murphy Vice Chair, Richard Verma as new CAO effective May 1
Tim Murphy, current Chief Administrative Officer, transitions to Vice Chair effective May 1, 2025.
Base salary rises from $1.25M to $1.4M effective March 1, 2025.
Mastercard Q4 net revenue $7.5B (+16% CC); adj EPS $3.82; GDV +12%
Q4 GAAP net income $3.3B, diluted EPS $3.64; adjusted EPS $3.82 vs $3.18 YoY.
Mastercard sets 2025-2027 targets: revenue CAGR high-end low double-digits, EPS CAGR mid-teens
Net revenue CAGR target: high-end of low-double-digits (currency-neutral, 2024 base).
Mastercard Q3 net income $3.3B, adj. EPS $3.89; revenue +13%, volume +10%
GAAP diluted EPS $3.53 ($3.3B net income); adjusted diluted EPS $3.89 ($3.6B) – both up YoY.
Mastercard issues $3B in three-tranche senior notes: 2028, 2032, 2035
$750M of 4.100% Notes due 2028, $1.15B of 4.350% Notes due 2032, $1.1B of 4.550% Notes due 2035.
Mastercard Q2 2024: EPS $3.50 ($3.59 adj.), revenue $7.0B +11%, cross-border +17%
GAAP net income $3.3B, diluted EPS $3.50; adjusted net income $3.3B, adjusted diluted EPS $3.59.
Mastercard's class settlement with merchants formally rejected by federal court
Eastern District Court of New York rejected the Class Settlement Agreement on June 25, 2024.
All 12 director nominees elected; say-on-pay approved with 742.9M votes for (95.3% of votes cast).
Mastercard issues $1B of 4.875% notes due 2034
Completed $1,000,000,000 aggregate principal offering of 4.875% Notes due 2034.
Mastercard Q1 net revenue $6.3B (+11% CC), adj EPS $3.31 (+19% CC), GDV +10%, cross-border +18%
GAAP net income $3.0B, diluted EPS $3.22; adjusted net income $3.1B, adjusted EPS $3.31.
Mastercard settles merchant class action, agrees to cut U.S. credit interchange rates for five years
Settlement requires Mastercard to reduce published and effective interchange on U.S. credit transactions; five-year rate cap applies.
Mastercard Q4 net income $2.8B ($2.97 EPS); revenue $6.5B, up 13% YoY
Q4 net revenue $6.5B, up 13% (11% currency-neutral); full-year revenue $25.1B, up 13%.
Mastercard amends bylaws to tighten stockholder proposal and director nomination procedures
Amendments clarify procedural requirements for stockholder proposals and director nominations, including notice delivery and nominee limits.
Mastercard Q3 net income $3.2B, EPS $3.39; revenue $6.5B up 14% YoY
Net revenue $6.5B (+14% reported, +11% currency-neutral); diluted EPS $3.39 vs $2.58 YoY.
Mastercard Q2 net income $2.8B, EPS $3.00; revenue up 14% to $6.3B
Net revenue $6.3B (+14% reported, +15% currency-neutral); GAAP diluted EPS $3.00, adjusted diluted EPS $2.89.
All 12 director nominees elected with 'for' votes ranging from 753.9M to 796.7M out of ~842.5M shares present.
Mastercard extends Michael Froman's departure to Dec 31; Advisor to CEO from June 1 at reduced pay
Michael Froman will stay until Dec 31, 2023, extended from May 2023, to ensure seamless transition.
Mastercard Q1 net revenue $5.7B (+11%), adjusted EPS $2.80, volume growth 15%
Net income $2.4B, diluted EPS $2.47; adjusted net income $2.7B, adjusted diluted EPS $2.80.
Mastercard closes $1.5B dual-tranche note offering (4.875% due 2028, 4.850% due 2033)
Issued $750M of 4.875% Notes due 2028.
Mastercard Vice Chairman and President Strategic Growth Michael Froman to depart end of May 2023
Michael Froman, 60, Vice Chairman and President, Strategic Growth, will leave Mastercard at the end of May 2023.
Mastercard revises revenue disaggregation to payment network and value-added services categories
New revenue categories: payment network ($14,358M) and value-added services ($7,879M) for FY2022; no change to total net revenue of $22,237M.
Mastercard Q4 net revenue $5.8B (+12%), adj. EPS $2.65 (+13%), cross-border volumes up 31%
Q4 net income $2.5B, diluted EPS $2.62; adjusted net income $2.5B, adjusted diluted EPS $2.65.
Mastercard enters new $8B, 5-year revolving credit facility, up from $6B
New $8.0B revolving credit facility matures Nov 10, 2027; amends prior $6.0B facility.
Mastercard Q3 net revenue $5.8B (+15% reported, +23% FX-neutral); adjusted EPS $2.68
Q3 GAAP net income $2.5B, diluted EPS $2.58; adjusted net income $2.6B, adjusted diluted EPS $2.68.
Mastercard Q2 net revenue $5.5B (+21%), adjusted EPS $2.56, cross-border volumes up 58%
Net revenue $5.5B (+21% reported, +27% currency-neutral); GAAP net income $2.3B, diluted EPS $2.34.
Mastercard shareholders approve special meeting right; all directors elected
Amended charter and bylaws to allow stockholders owning ≥15% of voting power for ≥1 year to call special meetings.
Mastercard Q1 net income $2.6B, diluted EPS $2.68; revenue up 24% to $5.2B
Adjusted diluted EPS $2.76 vs $1.74 YoY (+59%); GAAP EPS $2.68 vs $1.83.
Mastercard suspends network services in Russia following Ukraine invasion
Cards issued by Russian banks will no longer be supported on Mastercard network inside or outside Russia.
Mastercard reports Russia and Ukraine accounted for ~4% and ~2% of 2021 net revenues
Approximately 4% of 2021 net revenues derived from business conducted within, into and out of Russia.
Mastercard issues €750M of 1.000% Notes due 2029
Completed €750M offering of 1.000% Notes due 2029 on Feb 22, 2022.
Mastercard Amends 8-K to Disclose Candido Bracher's Audit Committee Appointment
Mastercard appointed Candido Bracher to its Audit Committee on February 8, 2022, effective June 21, 2022.
Mastercard appoints Harit Talwar to Board and HR & Compensation Committee
Harit Talwar elected to Mastercard Board of Directors effective April 1, 2022.
Mastercard raises base salaries for CEO, CFO, and other NEOs effective March 2022
CEO Michael Miebach base salary increased 17.5% from $1,000,000 to $1,175,000.
Mastercard Q4 net revenue up 27% to $5.2B; EPS $2.41, cross-border above pre-pandemic
Q4 net revenue $5.2B (+27% YoY, +28% currency-neutral); GAAP EPS $2.41, adjusted EPS $2.35.
Mastercard elects Harit Talwar to board of directors effective April 1, 2022
Harit Talwar, former chairman of Goldman Sachs' Marcus business, joins Mastercard board as independent director.
Timothy Murphy, age 59, Vice Chair, will retire from Mastercard in October 2026.
Vice Chair and Chief Services Officer Craig Vosburg, age 59, the Company’s Chief Services Officer, will transition from his current role to the role of Vice Chair.
Chief Financial Officer Ling Hai, age 56, the Company’s current President, Asia Pacific, Europe, Middle East and Africa, will be appointed to succeed Mr. Mehra as Chief Financial Officer of the Company.
Chief Business Officer Sachin Mehra, age 55, the Company’s Chief Financial Officer, will assume the role of Chief Business Officer.
Linda Kirkpatrick, age 49, the Company’s President, Americas, will succeed Mr. Vosburg as Chief Services Officer.
The Company also announced that effective as of August 3, 2026, Chris Mullett will be appointed to succeed Ms. Arkell as Corporate Controller and principal accounting officer of the Company.
On May 7, 2026, Mastercard Incorporated (“Mastercard” or the “Company”) announced that Sandra Arkell, the Company’s Corporate Controller and principal accounting officer, will assume the role of Mastercard’s Chief Audit Executive effective August 3, 2026, at which time she will step down from her current role.
On February 26, 2025, Mastercard Incorporated (“Mastercard” or the “Company”) announced that Timothy Murphy, 57, a Named Executive Officer and the Company’s Chief Administrative Officer, will transition from his current role to the role of Vice Chair, effective May 1, 2025.
The Company also announced that effective May 1, 2025, Richard Verma will re-join Mastercard and succeed Mr. Murphy as Chief Administrative Officer.
Effective June 1, 2023 (the “Effective Date”), Mr. Froman will become an Advisor to the CEO and will work on a reduced schedule of 25% of his current full-time commitment at a reduced rate of annual salary of $181,250.
On March 1, 2023, Mastercard Incorporated (“Mastercard” or the “Company”) announced that Michael Froman, 60, a Named Executive Officer and the Company’s Vice Chairman and President, Strategic Growth, will depart from Mastercard at the end of May 2023.
On January 12, 2022, the Board of Directors of Mastercard Incorporated (the “Company”) elected Harit Talwar to the Board of Directors, effective April 1, 2022.
Max materiality 0.85 · Median 0.60 · Most common event earnings