Visa deposits $500 million into U.S. litigation escrow account

Visa Inc. (NYSE: V) deposited $500 million into its U.S. litigation escrow account on December 23, 2025, according to a company statement.

The deposit was made under Visa's U.S. retrospective responsibility plan, which the company previously established. When funds are deposited into this escrow account, the conversion rates for the company's class B-1 and B-2 common stock are adjusted downward.

U.S. financial institutions and their affiliates and successors hold the majority of Visa's class B-1 and B-2 shares. The downward adjustment to conversion rates for these shares converting to class A common stock creates dilution for these shareholders.

Visa stated that this dilution has the same impact on earnings per share as a class A common stock repurchase would have. The company conducted the deposit and conversion rate adjustments according to its current certificate of incorporation.

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