Visa said on September 24, 2024 that it authorized a deposit of $1.5 billion into the litigation escrow account previously established under its U.S. retrospective responsibility plan.

1. 01

   Visa said on September 24, 2024 that it authorized a deposit of $1.5 billion into the litigation escrow account previously established under its U.S. retrospective responsibility plan.

2. 02

   The company said that under the terms of the plan, funding the U.S. litigation escrow account would dilute the value of its class B-1 and class B-2 common stock through downward adjustments to the conversion rates into class A common stock.

3. 03

   The company said the class B-1 and B-2 common stock is held predominantly by U.S. financial institutions and their affiliates and successors, and that the adjustment has the same effect on earnings per share as repurchasing class A common stock.

4. 04

   The company said the escrow deposit and the class B-1 and B-2 conversion rate adjustments will be carried out in accordance with its certificate of incorporation currently in effect. The filing was signed by Chief Financial Officer Chris Suh on September 26, 2024.

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Original filing

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