Form 4: Visa Executive Fabara Paul D Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Visa's Chief Risk & Client Services Officer, Fabara Paul D, exercised stock options and sold shares of Class A Common Stock under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 19, 2025, Fabara Paul D, Chief Risk & Client Services Officer of Visa Inc., exercised employee stock options to acquire 39,350 shares of Class A Common Stock at a price of $178.75 per share.
- Simultaneously, Fabara sold 39,350 shares at $340.4079 and an additional 26,413 shares at prices ranging from $340.0000 to $340.8100.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024.
- Following these transactions, Fabara directly owns 26,413 shares of Visa Inc. Class A Common Stock and 5,793 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, reflecting routine executive compensation activities.
Industry Context
This filing is a routine disclosure of insider transactions. Executives often use 10b5-1 plans to avoid accusations of trading on non-public information. The exercise of options and subsequent sale of shares is a common practice for executives to diversify their holdings and realize compensation.
Comparison to Industry Standards
- Executive compensation practices, including stock options and trading plans, are common across large publicly traded companies like Visa.
- Comparable companies such as Mastercard (MA) and American Express (AXP) also have executives who utilize similar strategies for managing their equity compensation.
- The use of Rule 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations, as seen in filings from executives at other major financial institutions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares in the open market.
- The exercise of stock options reflects a component of executive compensation, potentially impacting employee morale.
Key Dates
| Date | Description |
|---|---|
| January 31, 2020 | First vesting installment (34%) of employee stock options. |
| January 31, 2021 | Second vesting installment (33%) of employee stock options. |
| January 31, 2022 | Third vesting installment (33%) of employee stock options. |
| December 13, 2024 | Date of adoption of Rule 10b5-1 trading plan. |
| March 19, 2025 | Date of stock option exercise and share sales. |
| March 20, 2025 | Date of Form 4 filing. |
| October 15, 2029 | Expiration date of employee stock options. |
Keywords
Form 4, Visa Inc., Fabara Paul D, Stock Options, Rule 10b5-1, Insider Trading, Class A Common Stock, Executive Compensation
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