8-KLeadership ChangesExhibits & Filings

VISA INC. 8-K Report, Executive Changes (Oct 11, 2022)

Filed October 11, 2022For Securities:V

Summary

Visa Inc. (V) has announced a change to its Board of Directors through an 8-K filing on October 10, 2022. The company's Board size has been expanded from 11 to 12 members with the appointment of Kermit R. Crawford, effective October 7, 2022. Mr. Crawford's term will extend until the 2023 Annual Meeting of Stockholders. Mr. Crawford has been determined to be an independent director under NYSE listing standards and will serve on the Board's Audit and Risk Committee and Nominating and Corporate Governance Committee starting January 1, 2023. His compensation will align with Visa's standard arrangements for non-employee directors. This appointment reflects Visa's ongoing governance practices and commitment to maintaining a qualified and independent board.

Key Highlights

  • 1Visa Inc. appointed Kermit R. Crawford to its Board of Directors.
  • 2The Board size has been increased from 11 to 12 members.
  • 3Mr. Crawford's appointment is effective October 7, 2022, with his term expiring at the 2023 Annual Meeting of Stockholders.
  • 4The Board has determined Mr. Crawford to be an independent director.
  • 5Mr. Crawford will join the Audit and Risk Committee and Nominating and Corporate Governance Committee effective January 1, 2023.
  • 6His compensation will follow the standard non-employee director compensation plan.
  • 7No undisclosed arrangements or reportable transactions exist between Mr. Crawford and Visa.

Frequently Asked Questions

Kermit R. Crawford has been appointed to Visa's Board of Directors as an independent director. While the filing doesn't detail his specific background, his appointment, effective October 7, 2022, expands the Board and brings new expertise, with him set to join key committees like Audit and Risk, and Nominating and Corporate Governance from January 1, 2023.

Yes, the appointment of Mr. Crawford has increased the size of Visa's Board of Directors from 11 to 12 members.

Yes, Mr. Crawford will receive compensation for his service as a director and committee member in accordance with Visa's standard compensation practices for its non-employee directors.

According to the filing, there are no undisclosed arrangements or understandings related to Mr. Crawford's selection. Additionally, there are no transactions between Mr. Crawford and Visa that would require reporting under SEC Regulation S-K Item 404(a).