Form 4: Visa Executive Reports Stock Transactions and New Awards

Visa's Vice Chair, Kelly Mahon Tullier, reported the vesting and acquisition of common stock, a sale for tax purposes, and new equity awards including restricted stock units and stock options.

Summary

• Kelly Mahon Tullier, Vice Chair, Chief People & Corporate Affairs at Visa Inc., reported multiple transactions on November 19, 2025.
• Acquired 2,847 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) granted on November 19, 2022.
• Acquired 2,504 shares of Class A Common Stock through the vesting of RSUs granted on November 19, 2023.
• Acquired 2,004 shares of Class A Common Stock through the vesting of RSUs granted on November 19, 2024.
• Disposed of 3,700 shares of Class A Common Stock at a price of $324.12 per share, likely for tax withholding related to the RSU vesting.
• Received a new grant of 27,877 Employee Stock Options with an exercise price of $324.12, vesting in three equal installments on the first three anniversaries of the November 19, 2025 grant date and expiring on November 19, 2035.
• Received a new grant of 6,556 Restricted Stock Units (RSUs), vesting in three equal installments on the first three anniversaries of the November 19, 2025 grant date.
• Following these transactions, Kelly Mahon Tullier directly beneficially owns 39,503 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The filing reflects routine and expected executive compensation activities, including the vesting of prior awards and the grant of new equity incentives. This is generally positive for executive retention and alignment with shareholder interests, but it is not a significant catalyst for the company's stock price.

Positives

• The executive received new grants of 27,877 employee stock options and 6,556 restricted stock units, indicating continued long-term incentive compensation.
• The vesting of previously granted restricted stock units demonstrates the executive's ongoing equity participation and alignment with shareholder interests.

Future Outlook

The filing indicates future vesting events for the newly granted restricted stock units and employee stock options, which will occur in three equal installments on the first three anniversaries of the November 19, 2025 grant date.

Industry Context

This Form 4 filing reflects routine executive compensation practices within the financial services and technology industry, where equity awards like restricted stock units and stock options are common tools for attracting, retaining, and incentivizing senior management by aligning their interests with long-term shareholder value.

Stakeholder Impact

• Shareholders: The equity awards align the executive's financial interests with the long-term performance of Visa Inc., potentially fostering decisions that enhance shareholder value.
• Employees: Reflects standard executive compensation practices, which can influence broader compensation strategies within the company.

Next Steps

• Future vesting of 6,556 Restricted Stock Units in three equal installments on the first three anniversaries of November 19, 2025.
• Future vesting of 27,877 Employee Stock Options in three equal installments on the first three anniversaries of November 19, 2025.

Key Dates

Keywords

Visa, V, SEC Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Stock Options, Equity Awards