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MCINERNEY RYAN

Disclosed activity across 1 company

Tapewire entity
496
SEC CIK
0001578261

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
VISA INC.V · Entity 495Director · Chief Executive OfficerOctober 01, 2026October 03, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

VISA INC.

Report date October 01, 2026 · Filed October 03, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Class A Common StockSEC Table I · non-derivativeDirect15,174 Ending reported balance After 2026-10-01 transaction · row 2
2 source rows · reconciled sequence

Row 1 · 2026-10-01 · Exercise / conversion · Acquired 5,875 · Balance 21,049

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 22, 2026 adopted by the reporting person.

Row 2 · 2026-10-01 · Sale · Disposed 5,875 · Balance 15,174

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 22, 2026 adopted by the reporting person.

Employee Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $134.76 · Expires 2028-11-19Direct52,874 Reported balance After 2026-10-01 transaction · row 4 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 4 · 2026-10-01 · Exercise / conversion · Disposed 5,875 · Balance 52,874

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 22, 2026 adopted by the reporting person.

F2: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2018.

Class A Common StockSEC Table I · non-derivativeIndirectRyan and Angela McInerney Trust265,168 Reported balance Holding disclosure · report date 2026-10-01 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 265,168

Filing footnotes · ownership attribution and instrument terms

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 22, 2026 adopted by the reporting person.

F2: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2018.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
October 01, 2025 Filed Oct 2, 2025 20:05 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 10,485 $109.82 $1,151,462.70
Disclosure

SEC source: 0001403161-25-000071 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,022

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

Read SEC document
September 02, 2025 Filed Sep 3, 2025 20:24 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 10,485 $0.00 Strike: $109.82 $0.00
Disclosure

SEC source: 0001127602-25-021128 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 104,855

Underlying: Class A Common Stock · 10,485 shares

Expires 2027-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

F3 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2017.

Read SEC document
September 02, 2025 Filed Sep 3, 2025 20:24 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 10,485 $348.57 $3,654,707.17
Disclosure

SEC source: 0001127602-25-021128 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

F2 · price: The price reported in column 4 is a weighted average price. These shares were disposed of in multiple transactions at prices ranging from $346.5500-$349.3100, inclusive. The reporting person undertakes to provide to Visa Inc., any security holder of Visa Inc., or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares disposed of at each separate price within the ranges set forth in this Form 4.

Read SEC document
September 02, 2025 Filed Sep 3, 2025 20:24 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 10,485 $109.82 $1,151,462.70
Disclosure

SEC source: 0001127602-25-021128 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,022

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

Read SEC document
August 14, 2025 Filed Aug 15, 2025 20:06 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 10,485 $0.00 Strike: $109.82 $0.00
Disclosure

SEC source: 0001127602-25-020506 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 115,340

Underlying: Class A Common Stock · 10,485 shares

Expires 2027-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2017.

Read SEC document
August 14, 2025 Filed Aug 15, 2025 20:06 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 10,485 $343.13 $3,597,718.05
Disclosure

SEC source: 0001127602-25-020506 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

Read SEC document
August 14, 2025 Filed Aug 15, 2025 20:06 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 10,485 $109.82 $1,151,462.70
Disclosure

SEC source: 0001127602-25-020506 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,022

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated May 15, 2025 adopted by the reporting person.

Read SEC document
July 01, 2025 Filed Jul 2, 2025 20:13 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,630 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-018649 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 8,630 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
July 01, 2025 Filed Jul 2, 2025 20:13 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,630 $353.82 $3,053,466.60
Disclosure

SEC source: 0001127602-25-018649 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
July 01, 2025 Filed Jul 2, 2025 20:13 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,630 $80.82 $697,476.60
Disclosure

SEC source: 0001127602-25-018649 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,167

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
June 02, 2025 Filed Jun 4, 2025 20:31 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-016722 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 8,630

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
June 02, 2025 Filed Jun 4, 2025 20:31 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $362.77 $3,127,077.40
Disclosure

SEC source: 0001127602-25-016722 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
June 02, 2025 Filed Jun 4, 2025 20:31 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-016722 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,157

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
May 01, 2025 Filed May 2, 2025 20:22 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-013198 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 17,250

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
May 01, 2025 Filed May 2, 2025 20:22 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $345.58 $2,978,899.60
Disclosure

SEC source: 0001127602-25-013198 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
May 01, 2025 Filed May 2, 2025 20:22 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-013198 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,157

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
April 01, 2025 Filed Apr 3, 2025 21:21 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-011504 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 25,870

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
April 01, 2025 Filed Apr 3, 2025 21:21 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $350.44 $3,020,792.80
Disclosure

SEC source: 0001127602-25-011504 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
April 01, 2025 Filed Apr 3, 2025 21:21 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-011504 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,157

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
March 03, 2025 Filed Mar 4, 2025 22:32 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-007980 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 34,490

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
March 03, 2025 Filed Mar 4, 2025 22:32 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $363.00 $3,129,060.00
Disclosure

SEC source: 0001127602-25-007980 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 537

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
March 03, 2025 Filed Mar 4, 2025 22:32 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-007980 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,157

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
February 15, 2025 Filed Feb 19, 2025 00:17 UTC VISA INC. V · Entity 495 Exercise / conversionRestricted Stock Units · Derivative 1,092 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-25-005293 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,092

Underlying: Class A Common Stock · 1,092 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on February 15, 2023.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on February 15, 2023.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on February 15, 2023.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on February 15, 2023.

Read SEC document
February 15, 2025 Filed Feb 19, 2025 00:17 UTC VISA INC. V · Entity 495 Tax withholdingClass A Common Stock 555 $353.81 $196,364.55
Disclosure

SEC source: 0001127602-25-005293 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 537

Read SEC document
February 15, 2025 Filed Feb 19, 2025 00:17 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 1,092 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-25-005293 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,092

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on February 15, 2023.

Read SEC document
February 03, 2025 Filed Feb 4, 2025 23:08 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-003035 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 43,110

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
February 03, 2025 Filed Feb 4, 2025 23:08 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $340.00 $2,930,800.00
Disclosure

SEC source: 0001127602-25-003035 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
February 03, 2025 Filed Feb 4, 2025 23:08 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-003035 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 8,620

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
January 02, 2025 Filed Jan 3, 2025 21:28 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-25-000445 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 51,730

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F3 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
January 02, 2025 Filed Jan 3, 2025 21:28 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $317.78 $2,739,263.60
Disclosure

SEC source: 0001127602-25-000445 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
January 02, 2025 Filed Jan 3, 2025 21:28 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-25-000445 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 8,620

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document
December 02, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · derivative · entry 8

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 60,350

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F4 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

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December 02, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $316.90 $2,731,678.00
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · nonDerivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 39,310

F2 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

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December 02, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 8,620 $80.82 $696,668.40
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · nonDerivative · entry 3

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 47,930

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

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November 30, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 Exercise / conversionPerformance Share Award · Derivative 61,147 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · derivative · entry 7

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 61,147 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

F3 · derivative.exercise_date: Represents performance shares earned pursuant to the November 19, 2021 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

F3 · derivative.expiration_date: Represents performance shares earned pursuant to the November 19, 2021 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

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November 30, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 GrantPerformance Share Award · Derivative 61,147 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · derivative · entry 6

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 61,147

Underlying: Class A Common Stock · 61,147 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

F3 · derivative.exercise_date: Represents performance shares earned pursuant to the November 19, 2021 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

F3 · derivative.expiration_date: Represents performance shares earned pursuant to the November 19, 2021 award under the Visa Inc. 2007 Equity Incentive Compensation Plan. The number of performance shares earned was determined on the basis of the applicable 3-year performance period.

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November 30, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 Tax withholdingClass A Common Stock 30,990 $315.08 $9,764,329.20
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 39,310

Read SEC document
November 30, 2024 Filed Dec 3, 2024 21:38 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 61,147 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-028458 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 70,300

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value.

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November 22, 2024 Filed Nov 26, 2024 00:35 UTC VISA INC. V · Entity 495 GiftClass A Common Stock 3,300 $0.00 $0.00
Disclosure

SEC source: 0001127602-24-028036 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · Ryan and Angela McInerney Trust

Disclosed balance after: 208,016

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 GrantRestricted Stock Units · Derivative 18,238 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · derivative · entry 10

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,238

Underlying: Class A Common Stock · 18,238 shares

Expires not disclosed

F5 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2024.

F5 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2024.

F5 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2024.

F5 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2024.

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November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 GrantEmployee Stock Option (Right to Buy) · Derivative 77,325 $0.00 Strike: $311.85 $0.00
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · derivative · entry 9

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 77,325

Underlying: Class A Common Stock · 77,325 shares

Expires 2034-11-19

F4 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2024.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionRestricted Stock Units · Derivative 6,595 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · derivative · entry 8

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,190

Underlying: Class A Common Stock · 6,595 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2023.

F3 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2023.

F3 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2023.

F3 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2023.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionRestricted Stock Units · Derivative 5,337 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · derivative · entry 7

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,337

Underlying: Class A Common Stock · 5,337 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2022.

F2 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2022.

F2 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2022.

F2 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2022.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionRestricted Stock Units · Derivative 5,539 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · derivative · entry 6

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 5,539 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2021.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2021.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2021.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2021.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Tax withholdingClass A Common Stock 8,856 $311.85 $2,761,743.60
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · nonDerivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,153

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 6,595 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · nonDerivative · entry 3

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,009

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2023.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 5,337 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,414

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2022.

Read SEC document
November 19, 2024 Filed Nov 21, 2024 21:32 UTC VISA INC. V · Entity 495 Exercise / conversionClass A Common Stock 5,539 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-24-027830 · form4.xml · nonDerivative · entry 1

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,077

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of Visa Inc. common stock or a cash equivalent of its value. The restricted stock units vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The award was granted on November 19, 2021.

Read SEC document
November 01, 2024 Filed Nov 1, 2024 20:10 UTC VISA INC. V · Entity 495 Exercise / conversionEmployee Stock Option (Right to Buy) · Derivative 8,620 $0.00 Strike: $80.82 $0.00
Disclosure

SEC source: 0001127602-24-026218 · form4.xml · derivative · entry 4

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 68,970

Underlying: Class A Common Stock · 8,620 shares

Expires 2026-11-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

F2 · derivative.exercise_date: Options vest in three equal installments on each of the first three anniversaries of the date of the grant, subject to earlier vesting in full in limited circumstances as specified in the award agreement. The option was granted on November 19, 2016.

Read SEC document
November 01, 2024 Filed Nov 1, 2024 20:10 UTC VISA INC. V · Entity 495 SaleClass A Common Stock 8,620 $288.49 $2,486,783.80
Disclosure

SEC source: 0001127602-24-026218 · form4.xml · nonDerivative · entry 2

MCINERNEY RYAN · CIK 0001578261 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 538

F1 · kind: This transaction was made pursuant to a Rule 10b5-1 trading plan dated April 25, 2024 adopted by the reporting person.

Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.