---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-234352"
form_type: "8-K"
ticker: "V"
cik: "0001403161"
company_name: "VISA INC."
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T18:56:53.856142+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "medium"
source: SEC EDGAR
---

# Visa proposes charter amendments for exchange offers to release Class B stock transfer restrictions

## Summary
- BoD authorized engagement with stockholders on amendments to allow exchange offers for 245M Class B shares (~390M Class A equivalent, ~$96B value).
- Initial offer would exchange half of Class B-1 for new Class B-2 stock and Class C stock; up to three successive offers to follow.
- Class B-2 conversion adjustments would occur at double the rate of Class B-1, maintaining existing litigation liability protections.
- Makewhole agreements required from participating holders; temporary transfer restrictions on Class C received.
- No formal proposal yet; amendments require separate class vote of each common stock class if eventually proposed.

## SEC filing metadata
- accession: 0001193125-23-234352
- form_type: 8-K
- ticker: V
- cik: 0001403161
- company_name: VISA INC.
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: medium
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1403161/000119312523234352/0001193125-23-234352-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1403161/000119312523234352/d450315d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-234352
- JSON: https://secwatch.observer/filing/0001193125-23-234352.json
- Plain text: https://secwatch.observer/filing/0001193125-23-234352.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.