Visa commences exchange offer for Class B-1, Class B-2 common stock

Visa (V) commenced an Exchange Offer pursuant to which its Class B-1 and Class B-2 common stock may be exchanged for a combination of Visa’s Class B-3 common stock, Visa’s Class C common stock, which will be freely tradeable following temporary transfer restrictions, and, where applicable, cash consideration in lieu of fractional shares. This is the second Exchange Offer in a previously announced program that enables Visa to permit the release of transfer restrictions on portions of Visa’s Class B common stock. The Exchange Offer will expire on May 8, 2026, at one minute after 11:59 p.m. New York City time unless extended or earlier terminated by Visa. Settlement of the shares will be made promptly following the Expiration Date.