Business Context and Reporting Period
This Form 8-K Current Report was filed by VISA INC. on April 21, 2009. The filing documents events occurring at the Company's Annual Meeting of Stockholders held on the same date.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate governance events rather than financial performance data.
Material Changes and Corporate Actions
Stockholders approved the following actions at the Annual Meeting:
- Election of Class I Directors: Hani Al-Qadi, Charles T. Doyle, Peter Hawkins, David I. McKay, Charles W. Scharf, and Segismundo Schulin-Zeuthen (serving until the 2011 annual meeting).
- Election of Class II Directors: Thomas J. Campbell, Gary P. Coughlan, Mary B. Cranston, Francisco Javier Fernandez-Carbajal, Suzanne Nora Johnson, and Joseph W. Saunders (serving until the 2012 annual meeting).
- Auditor Ratification: KPMG LLP was ratified as the independent registered public accounting firm for fiscal year 2009.
Outlook, Governance, and Future Events
2010 Annual Meeting: Visa expects to hold its 2010 annual meeting on January 20, 2010. This date represents a change of more than 30 days from the anniversary of the 2009 meeting.
Stockholder Proposals: Due to the change in meeting dates, stockholder proposals for inclusion in the 2010 proxy materials must be received by the close of business on August 3, 2009. Proposals not included in the proxy statement must comply with advance notice provisions (delivered 90 to 120 days prior to the meeting) to be eligible for presentation.
Investor Verification Checklist
- Verify the full list of newly elected directors and their respective class terms (2011 vs. 2012).
- Confirm the appointment of KPMG LLP as the independent auditor for fiscal year 2009.
- Note the deadline of August 3, 2009, for submitting stockholder proposals for the 2010 Annual Meeting.
- Review the attached press release (Exhibit 99.1) for additional details on the election results.