Summary
This 8-K filing from Visa Inc. on December 16, 2011, reports on a pre-arranged stock trading plan adopted by its Chief Financial Officer, Byron H. Pollitt, Jr. The plan allows for the potential sale of up to 77,484 shares of Visa stock, with an expiration date set for February 2013. This plan adheres to Rule 10b5-1 of the Securities Exchange Act of 1934 and Visa's insider trading policy, designed to provide liquidity while mitigating concerns about insider trading. While this filing is primarily informational regarding an executive's trading strategy, it confirms that Mr. Pollitt remains subject to Visa's executive stock ownership guidelines. Investors should note that such plans are common for executives to manage their stock holdings and that all transactions will be publicly disclosed via Form 4 filings. The company explicitly states it will not be reporting on individual 10b5-1 plans beyond this notice.
Key Highlights
- 1CFO Byron H. Pollitt, Jr. adopted a pre-arranged stock trading plan.
- 2The plan permits the sale of up to 77,484 shares of Visa stock.
- 3The trading plan is scheduled to terminate in February 2013.
- 4The plan was established under Rule 10b5-1 and the company's insider trading policy.
- 5All transactions under this plan will be publicly disclosed via Form 4 filings.
- 6Mr. Pollitt remains subject to Visa's executive stock ownership guidelines.
- 7Visa Inc. will not routinely report on individual 10b5-1 plans.