VISA INC. (NYSE:V) Files An 8-K Other Events


VISA INC. (NYSE:V) Files An 8-K Other Events
Item 8.01Other Events.

On July 5, 2018, Visa Inc. (the “Company”) issued a press release announcing the new conversion rate applicable to the Company’s class B common stock resulting from its June 28, 2018 deposit of $600 million into the U.S. litigation escrow account previously established under the Company’s U.S. retrospective responsibility plan (the “Plan”). Under the terms of the Plan, this resulted in the decrease in the conversion rate applicable to the Company’s class B common stock from 1.6483 to 1.6298, effective as of June 28, 2018. Therefore, the number of as-converted class B common stock share count was reduced by 4,534,312 from 404,671,213 to 400,136,901. The deposit and conversion rate adjustment calculations were conducted in accordance with the Company’s certificate of incorporation using the volume-weighted average price over the 7-day pricing period from June 25, 2018 through July 3, 2018.

A copy of the press release issued on July 5, 2018, is attached as Exhibit 99.1 to this Current Report on Form 8-K. All information in the press release is furnished but not filed.

Item 8.01Financial Statements and Exhibits.

(d) Exhibits

VISA INC. Exhibit
EX-99.1 2 vex99107052018.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1NEWS RELEASEVisa Inc. Announces New Conversion Rate for Class B Common Stock San Francisco,…
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Visa Inc. (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants. The Company’s transaction processing network facilitates authorization, clearing and settlement of payment transactions and enables to provide its financial institution and merchant clients a range of products, platforms and value-added services. The Company is a retail electronic payment network based on payments volume, number of transactions and number of cards in circulation. Its products/services include core products, processing infrastructure, transaction processing services, digital products, merchant products, and risk products and payment security initiatives.