Class B-1, B-2, B-3 and C Common Stockholders Information
This webpage is for holders of shares of class B-1, B-2, B-3 and C common
stock of Visa Inc. (the "Company") who are interested in transferring their
class B-1, B-2, B-3 or C shares to another party. All references to “class B
common stock” in this webpage shall be deemed to refer to and shall be
deemed to constitute and include all class B-1 common stock, class B-2
common stock, and Class B-3 common stock.
Class B Shares
Pursuant to the Company's amended and restated certificate of incorporation
(the "Charter"), class B shares generally may not be transferred until the
Escrow Termination Date (as defined in the Charter).
Our Charter permits specific categories of transfers ("Permitted Transfers")
during the transfer restriction period described above. We have identified
several Permitted Transfer scenarios that are most relevant and applicable
to our class B stockholders, and this web page is intended to assist those
to: (1) determine whether their transfer scenario is permitted; and (2)
obtain forms needed to commence the transfer request process.
Class C Shares
Under our Charter, no stockholder may own or hold votes represented by (i)
more than 15% of the total number of our outstanding class A shares or (ii)
class A shares and other common stock representing, together and on an
as-converted basis, more than 15% of the number of shares of all of our
outstanding common stock.
There are currently transfer restrictions on class C common stock issued in
connection with Visa’s 2026 Class B Exchange Offer. Holders who participated
in the 2026 Class B Exchange Offer may only transfer up to one-third of
Class C common stock that they received in connection with the 2026 Exchange
Offer until June 25, 2026 (exclusive) and only up to two-thirds of the Class
C common stock they received in connection with the 2026 Class B Exchange
Offer until August 9, 2026 (exclusive). Beginning on August 9, 2026, all
Class C shares issued in connection with the 2026 Class B Exchange Offer
will be fully transferrable.
All Class C shares issued in connection with the 2024 Class B Exchange
Offer are fully transferrable.
Share Transfers
Currently, the following Permitted Transfers may be arranged through this
webpage:
-
Transfers from a holder of class B shares to another holder of class B
shares (or to any affiliate of a holder of class B shares);
-
Transfers from a holder of class C shares to another holder of class C
shares (or to any affiliate of such a holder of class C shares);
-
Transfers from a holder of class B shares to its respective affiliates;
-
Transfers from a holder of class C shares to its respective affiliates;
-
Transfers from a holder of class B or C shares to any person who succeeds
to all or substantially all of the transferor's assets or who acquires all
or substantially all of the transferor's Visa-branded payment product
portfolio;
-
Transfers of class B or C shares from a Group Member (as defined in the
Second Restated Visa International Bylaws) of Visa International Service
Association to a stockholder, member or other equity holder in that Group
Member ratably in accordance with such member's entitlement to dividends
or other distributions;
-
To effect a corporate name change for holders of class B or C shares of
Visa Inc.; and
-
Sale of class C shares to the public market or private placement to a
transferor who is not a Visa Member or an affiliate of a Visa Member (as
defined in Visa’s Certificate of Incorporation).
Under our Charter, no stockholder may own (i) more than 15% of the total
number of, or votes represented by, our outstanding class A shares or (ii)
class A shares and other common stock representing, together and on an
as-converted basis, more than 15% of the number of shares of all of our
outstanding common stock.
Please access our
class B and C Stockholder Frequently Asked Questions
to review the most commonly requested information and background relating to
ownership rights, limitations and transfers of our class B and C shares. For
information on Permitted Transfers not addressed on this website, please
contact Visa's Transfer Agent, Equiniti Trust Company (formerly Wells Fargo
Shareowner Services a division of Wells Fargo Bank N.A.) at the number
listed below.
You can also access your shareowner account through the Shareowner Online
website at
https://www.shareowneronline.com. Through the Shareowner Online website, you can view account information,
change your registered address, update your email address, sign up for wire
transfer of your dividend payments, request replacements for outstanding
checks, and sign up for e-delivery of your account statement and tax forms.
For more information, please visit
https://www.shareowneronline.com.
If, having reviewed all of the terms and conditions related to Permitted
Transfers, you have determined that you wish to effect a transfer of class B
or C shares, please use the documentation provided through the links below.
Forms
-
To conduct transfers from a holder of class B shares to another
holder of class B shares (or to any affiliate of a holder of class B
shares), please use the following documents:
-
To conduct transfers from a holder of class C shares to another
holder of class C shares (or to any affiliate of a holder of class C
shares), please use the following documents:
-
To conduct transfers from a holder of class B shares to an Affiliate,
please use the following documents:
-
To conduct transfers from a holder of class C shares to an Affiliate,
please use the following documents:
-
To conduct transfers from a holder of class B or C shares to any
person who succeeds to all or substantially all of the transferor's
assets (or who acquires all or substantially all of the transferor's
Visa-branded payment product portfolio), please use the following
documents:
-
To conduct transfers from a Group Member of Visa International
Service Association to a stockholder, member or other equity holder in
such Group Member ratably in accordance with such persons respective
entitlements to dividends or other distributions from the Group
Member, please use the following documents:
-
To effect a corporate name change for holders of class B and class C
shares of Visa, please use the following documents:
-
To conduct a sale of class C shares to the public market or via
private placement, please visit the following website:
All originally executed documents must be delivered to EQ Shareowner
Services via mail or courier at the following address:
Via Mail:
EQ Shareowner Services
P.O. Box 64874
St. Paul, MN 55164-0874
Via Courier:
EQ Shareowner Services
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120
Telephone: From within the U.S. 1-866-456-9417
Telephone: From outside the U.S. +1-651-306-4433
Email: visa@equiniti.com
www.shareowneronline.com
Frequently Asked Questions
The Company has drafted class B and C Stockholder Frequently Asked Questions
in an effort to address any questions or concerns that our class B and C
stockholders may have regarding transfer restrictions, ownership limitations
or otherwise.
See below for the class B common stock conversion rate. The current class C
common stock conversion rate is 4.0 shares of class A common stock per class
C common stock. For more information, please visit our SEC Filing Form 8-K
dated February 27, 2026 at
Visa Inc. - SEC Filings
| Date |
Class B-1 Conversion Rate Into Class A Common Stock1
|
Class B-2 Conversion Rate Into Class A Common Stock2
|
Class B-3 Conversion Rate Into Class A Common Stock3
|
| As of March 19, 2008 |
0.7143 |
|
|
| As of December 19, 2008 |
0.6296 |
|
|
| As of July 16, 2009 |
0.5824 |
|
|
| As of May 28, 2010 |
0.5550 |
|
|
| As of October 8, 2010 |
0.5102 |
|
|
| As of March 31, 2011 |
0.4881 |
|
|
| As of December 29, 2011 |
0.4254 |
|
|
| As of July 24, 2012 |
0.4206 |
|
|
| As of September 24, 2014 |
0.4121 |
|
|
| 4As of March 19, 2015 |
1.6483 |
|
|
| As of June 28, 2018 |
1.6298 |
|
|
| As of September 27, 2019 |
1.6228 |
|
|
| As of December 29, 2021 |
1.6181 |
|
|
| As of June 29, 2022 |
1.6059 |
|
|
| As of December 29, 2022 |
1.5991 |
|
|
| As of June 28, 2023 |
1.5902 |
|
|
| As of September 28, 2023 |
1.5875 |
|
|
| As of May 8, 2024 |
1.5875 |
1.5875 |
|
| As of September 26, 2024 |
1.5653 |
1.5430 |
|
| As of March 27, 2025 |
1.5609 |
1.5342 |
|
| As of September 25, 2025 |
1.5549 |
1.5223 |
|
| As of December 23, 2025 |
1.5491 |
1.5108 |
|
| As of February 26, 2026 |
1.5475 |
1.5075 |
|
| As of May 12, 2026 |
1.5475 |
1.5075 |
1.5075 |
1 The Company’s class B-1 conversion rate changes with deposits
into the litigation escrow account previously established under the
Company’s U.S. retrospective responsibility plan (the “Plan”) to address
potential liability in certain U.S. litigation matters. Under the terms of
the Plan, when the Company funds the litigation escrow, the sole holders of
class B-1 and class B-2 shares bear the expense via a reduction in their
as-converted share count.
2 The Company issued class B-2 stock on May 8, 2024 as part of an
exchange offer for class B-1 common stock. The conversion rates for the
class B-1 and class B-2 common stock as of May 8, 2024 were 1.5875. Similar
to the class B-1 common stock, the class B-2 common stock conversion rate
also changes with deposits into the litigation escrow account. However, the
downward conversion rate adjustments to the class B-2 common stock will
occur at twice the rate as that applicable to the class B-1 common stock.
3 The Company issued class B-3 stock on May 12, 2026 as part of
an exchange offer for class B-1 common stock and class B-2 common stock. The
conversion rates for the class B-2 and class B-3 common stock as of May 12,
2026 were 1.5075. Similar to the class B-1 common stock and Class B-2 common
stock, the class B-3 common stock conversion rate also changes with deposits
into the litigation escrow account. However, the downward conversion rate
adjustments to the class B-3 common stock will occur at twice the rate as
that applicable to the class B-2 common stock and four times the rate as
that applicable to the class B-1 common stock.
4 Effective March 19, 2015, after the 4-for-1 stock split of the
Company’s class A common stock, the conversion rate for each class B common
stock increased to 1.6483 shares of class A common stock.
You can access the FAQ materials through the following link:
If you have any questions regarding the rights and responsibilities of class
B and C stockholders or the procedures and forms needed to transfer stock,
please refer to the FAQ materials through the link above or contact
EQ Shareowner Services
, where representatives are available to answer your questions and provide
assistance.