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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
  
FORM 8-K
 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 18, 2020
  V-20201118_G1.JPG  
VISA INC.
(Exact name of Registrant as Specified in Its Charter)
 
         
Delaware   001-33977   26-0267673
(State or Other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)
 
     
P.O. Box 8999  
San Francisco,
California   94128-8999
(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 432-3200

N/A
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Class A common stock, par value $0.0001 per share V New York Stock Exchange
(Title of each Class) (Trading Symbol) (Name of each exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 5.02    Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 18, 2020, the board of directors (the "Board") of Visa Inc. (the "Company") upon the recommendation of the Board's Nominating and Corporate Governance Committee, increased the size of the Board from 11 to 12 members and appointed Linda J. Rendle to the Board, effective November 23, 2020, for a term that will expire at the Company's 2021 Annual Meeting of Stockholders. A press release announcing Ms. Rendle's appointment to the Board is attached as Exhibit 99.1 and is incorporated by reference.

The Board determined that Ms. Rendle is an independent director within the meaning of the New York Stock Exchange listing standards. Ms. Rendle has also been appointed to the Board's Finance Committee and Nominating and Corporate Governance Committee. There are no arrangements or understandings between Ms. Rendle and any other persons pursuant to which she was selected as a director. There are no transactions involving the Company and Ms. Rendle that the Company would be required to report pursuant to Item 404(a) of Regulation S-K.

Ms. Rendle will receive compensation for her Board and committee service in accordance with the Company’s standard compensation arrangements for non-employee directors, which are described in the Company’s definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 5, 2019.

The Company will enter into an indemnification agreement with Ms. Rendle. Such form of indemnification agreement was included as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q, filed with the SEC on January 31, 2020, and is incorporated herein by reference.




Item 9.01    Financial Statements and Exhibits.

(d) Exhibits







SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
         
    VISA INC.
   
Date: November 23, 2020   By:   /s/ Alfred F. Kelly, Jr.
        Alfred F. Kelly, Jr.
Chairman and Chief Executive Officer




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