Visa Inc. insider reports 9,648-share performance award settlement

Q: What insider transaction did Visa Inc. (V) report in this Form 4?

Visa Inc. reported that its General Counsel acquired 9,648 shares of Class A common stock on 11/30/2025 when performance share units vested and were settled into stock, and that some of these shares were withheld for tax purposes.

Q: How many Visa (V) shares does the reporting person own after this transaction?

After the reported transactions on 11/30/2025, the reporting person directly owned 18,404 shares of Visa Inc. Class A common stock, as shown in the Form 4.

Q: What is the significance of the 9,648 performance share units for Visa (V)?

The 9,648 performance share units represent shares earned under a November 19, 2022 award pursuant to the Visa Inc. 2007 Equity Incentive Compensation Plan, based on a 3-year performance period, and were settled into an equal number of Visa Class A shares.

Q: Why were 4,900 Visa (V) shares reported with transaction code "F" at $334.44?

The Form 4 shows 4,900 shares of Visa Class A common stock with transaction code “F” at $334.44 per share, indicating shares were disposed of, typically reflecting shares withheld by the issuer to cover the reporting person’s tax obligations upon vesting.

Q: What does Visa (V) mean by a restricted stock unit in this filing?

The explanation states that each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value, depending on the plan terms.

Q: Which equity plan governs the reported Visa (V) performance shares?

The performance shares were earned under the Visa Inc. 2007 Equity Incentive Compensation Plan, specifically from a November 19, 2022 award with a three-year performance measurement period.

Visa Inc. filed a Form 4 reporting equity award activity by its General Counsel.

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Rhea-AI Filing Summary

Visa Inc. filed a Form 4 reporting equity award activity by its General Counsel. On 11/30/2025, the officer acquired 9,648 shares of Class A common stock through the vesting and settlement of performance-based restricted stock units, as shown by transaction code “M” in connection with a performance share award.

On the same date, 4,900 shares of Class A common stock were withheld at a price of $334.44 per share, reported with transaction code “F,” typically reflecting shares retained to cover taxes. Following these transactions, the insider directly owned 18,404 shares of Visa Class A common stock. The derivative table shows 9,648 performance share units earned for the three-year performance period tied to a November 19, 2022 award, which were then settled into common shares.

Insider Trade Summary

9,648 shares exercised/converted

Exercise 4 txns

Insider ROTTENBERG JULIE B

Role GENERAL COUNSEL

Type	Security	Shares	Price	Value
Grant/Award	Performance Share Award	9,648	$0.00	$0.00
Exercise	Performance Share Award	9,648	$0.00	$0.00
Exercise	Class A Common Stock	9,648	$0.00	$0.00
Exercise Price or Tax Liability	Class A Common Stock	4,900	$334.44	$1.64M

Holdings After Transaction: Performance Share Award — 0 contracts (Direct); Class A Common Stock — 18,404 shares (Direct)

Footnotes (2)

F1. Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.
F2. Represents performance shares earned pursuant to the November 19, 2022 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Visa Inc. (V) report in this Form 4?

Visa Inc. reported that its General Counsel acquired 9,648 shares of Class A common stock on 11/30/2025 when performance share units vested and were settled into stock, and that some of these shares were withheld for tax purposes.

How many Visa (V) shares does the reporting person own after this transaction?

After the reported transactions on 11/30/2025, the reporting person directly owned 18,404 shares of Visa Inc. Class A common stock, as shown in the Form 4.

Why were 4,900 Visa (V) shares reported with transaction code "F" at $334.44?

The Form 4 shows 4,900 shares of Visa Class A common stock with transaction code “F” at $334.44 per share, indicating shares were disposed of, typically reflecting shares withheld by the issuer to cover the reporting person’s tax obligations upon vesting.

What does Visa (V) mean by a restricted stock unit in this filing?

The explanation states that each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value, depending on the plan terms.

Which equity plan governs the reported Visa (V) performance shares?

The performance shares were earned under the Visa Inc. 2007 Equity Incentive Compensation Plan, specifically from a November 19, 2022 award with a three-year performance measurement period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/02/2025 - 04:16 PM EST

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROTTENBERG JULIE B

(Last)

(First)

(Middle)

C/O VISA INC.

PO BOX 8999

(Street)

SAN FRANCISCO

94128-8999

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
VISA INC. [ V ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	11/30/2025		M		9,648	A	⁽¹⁾	23,304	D
Class A Common Stock	11/30/2025		F		4,900	D	$334.44	18,404	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Share Award	⁽¹⁾	11/30/2025		A		9,648		⁽²⁾	⁽²⁾	Class A Common Stock	9,648	⁽¹⁾	9,648	D
Performance Share Award	⁽¹⁾	11/30/2025		M			9,648	⁽²⁾	⁽²⁾	Class A Common Stock	9,648	⁽¹⁾	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

2. Represents performance shares earned pursuant to the November 19, 2022 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

	/s/ Sue Choi, Attorney-In-Fact	12/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR