Visa (V) Vice Chair Kelly Mahon Exercises Options, Sells Shares

What Happened
Kelly Mahon Tullier, Vice Chair and Chief People & Corporate Affairs at Visa, exercised 37,281 stock options on July 30, 2026 at an exercise price of $109.82 (total cost reported $4,094,199) and immediately sold shares. On the same day she sold 37,281 shares at a weighted-average price of $365.05 (proceeds $13,609,399) and sold an additional 19,991 shares at a weighted-average price of $364.81 (proceeds $7,292,941). Total sale proceeds were about $20.9 million. The filing also shows a derivative disposition of 37,281 units at $0.00 reflecting the exercised/converted options.

Key Details

• Transaction date: July 30, 2026; Form 4 filed July 31, 2026 (timely filing).
• Exercise: 37,281 options @ $109.82 (cost $4,094,199).
• Sales: 37,281 shares @ $365.05 (weighted avg; proceeds $13,609,399) and 19,991 shares @ $364.81 (weighted avg; proceeds $7,292,941). Total sale proceeds ≈ $20,902,340.
• Footnotes: Sales prices are weighted averages from multiple trades. Price ranges: 37,281-lot trades ranged $363.00–$366.59; 19,991-lot trades ranged $363.00–$365.15. The filer offers to provide per-trade details on request (F1, F2).
• Options info: Options were granted Nov 19, 2017 and vest in three equal annual installments (F3).
• Shares owned after the transactions were not reported in the provided data.

Context
This was an option exercise followed by immediate share sales (i.e., the exercised shares were sold same day). Such same-day exercises and sales are commonly used to cover exercise costs, taxes, or for diversification; the filing itself is factual and does not state the insider's motive. Purchases generally carry stronger signals of insider confidence than sales; here the primary economic result was a net cash inflow to the insider from exercising and selling shares.