Summary
Visa Inc. (V) filed an 8-K report on March 7, 2014, primarily to disclose the adoption of a pre-arranged stock trading plan by its Chief Financial Officer, Byron H. Pollitt, Jr. This plan, established on March 5, 2014, allows Mr. Pollitt to sell up to 79,518 shares of Visa stock, with the plan set to expire in April 2015 or earlier. The transactions will be publicly reported through Form 4 filings. This disclosure is important for investors as it provides transparency regarding insider stock transactions. The plan adheres to Rule 10b5-1 of the Securities Exchange Act of 1934 and Visa's insider trading policy, ensuring compliance and preventing potential insider trading concerns. Mr. Pollitt will remain subject to the company's executive stock ownership guidelines.
Key Highlights
- 1CFO Byron H. Pollitt, Jr. adopted a pre-arranged stock trading plan.
- 2The plan allows for the sale of up to 79,518 shares of Visa stock.
- 3The stock trading plan was adopted on March 5, 2014.
- 4Transactions under the plan will be disclosed via Form 4 filings.
- 5The plan is established in accordance with Rule 10b5-1 and Visa's insider trading policy.
- 6The plan is scheduled to terminate in April 2015 or earlier.
- 7The CFO remains subject to the company's executive stock ownership guidelines.