---
schema_version: "secwatch.filing_event.v1"
accession: "0001403161-26-000049"
form_type: "8-K"
ticker: "V"
cik: "0001403161"
company_name: "VISA INC."
filed_at: "2026-02-13T23:59:59+00:00"
generated_at: "2026-05-16T02:45:10.609758+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Visa: Litigation fees drop below 50% threshold, clearing path for Class B exchange offer

## Summary
- Estimated interchange fees in unresolved U.S. litigation fell from $49.6B (Oct 2023) to ~$39.4B (Oct 2025); expected to drop below $24.8B after 7-Eleven dismissal.
- Board authorized successive exchange offer for all Class B-1 and B-2 shares once conditions satisfied.
- Exchange offer will allow holders to exchange for restricted Class B-3 and freely transferable Class C common stock.
- Company expects to file S-4 registration statement upon conditions met; timing subject to SEC review and market conditions.

## SEC filing metadata
- accession: 0001403161-26-000049
- form_type: 8-K
- ticker: V
- cik: 0001403161
- company_name: VISA INC.
- filed_at: 2026-02-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1403161/000140316126000049/0001403161-26-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1403161/000140316126000049/v-20260213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001403161-26-000049
- JSON: https://secwatch.observer/filing/0001403161-26-000049.json
- Plain text: https://secwatch.observer/filing/0001403161-26-000049.txt

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