Visa Insider: 2,027 Options Exercised and Shares Sold Under 10b5-1 Plan
Rhea-AI Filing Summary
Julie B. Rottenberg, General Counsel of Visa Inc. (V), reported purchases and sales under a Rule 10b5-1 plan dated May 7, 2025. On 08/18/2025 she exercised 2,027 employee stock options with a $109.82 exercise price and simultaneously sold 2,027 Class A shares at $344.02, leaving her with 11,925 shares beneficially owned. The exercised options were originally granted on 11/19/2017 and vest in three equal installments on each of the first three anniversaries of the grant, subject to limited earlier vesting. Transactions were reported by an attorney-in-fact on 08/19/2025.
Positive
- Transactions executed under a documented Rule 10b5-1 plan, which provides procedural clarity and an affirmative defense for the trades
- Full transaction disclosure includes option grant date, vesting schedule, exercise price, sale price, and post-transaction beneficial ownership
Negative
- None.
Insights
TL;DR: Officer exercised vested options and sold the underlying shares under a pre-established 10b5-1 plan; ownership modestly reduced.
The filing shows a routine exercise-and-sell executed pursuant to a Rule 10b5-1 trading plan, which provides an affirmative defense for insider trading when properly adopted. The reporting person exercised 2,027 options at $109.82 and sold the same number of shares at $344.02 on the same date, indicating a cash-out of option gains while retaining 11,925 shares. This is a standard liquidity action by an executive and does not, by itself, indicate changes to company fundamentals.
TL;DR: Disclosure is complete for the transactions disclosed and notes the 10b5-1 plan and vesting schedule for the option grant.
The Form 4 includes required details: reporting person identity and role (General Counsel), transaction dates, codes, prices, option grant date, vesting structure, and that the trades were made under a 10b5-1 plan. The use of an attorney-in-fact to file the form is noted and the signature is dated 08/19/2025. From a governance perspective, the filing fulfills regulatory disclosure obligations for insider transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 2,027 | $0.00 | -- |
| Exercise | Class A Common Stock | 2,027 | $109.82 | $223K |
| Sale | Class A Common Stock | 2,027 | $344.02 | $697K |
Footnotes (1)
- This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 7, 2025 adopted by the reporting person. Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2017.
