Finwise Bancorp 10-K

Item 3. LEGAL PROCEEDINGS Between July and August 2025, several lawsuits were filed against the Company in the United States District Court for the District of Utah. The complaints generally assert claims of negligence, breach of implied contract and unjust enrichment, on behalf of various classes of putative individuals who claimed to have been harmed in connection with an alleged data breach involving the Company. The plaintiffs are seeking equitable and injunctive relief as well as an unspecified amount of monetary damages in connection with their claims, which include an award of attorneys’ fees and costs. On October 3, 2025, the Court entered an Order consolidating the pending cases and all subsequently filed putative class actions involving the same or substantially the same obligations into the pending matter into Minter et. al v. FinWise Bank et. al, Case No. 46 Table of Contents 2:25-cv-00569-JNP-CMR. The Company has disputed the claims and is vigorously defending the lawsuit. The parties engaged in voluntary mediation on March 17, 2026, but were unable to reach an agreement on that date. The outcome of the pending litigation described above is uncertain. We intend to defend vigorously against the foregoing pending lawsuit and any other lawsuits as they may arise in the ordinary course of business. However, litigation is inherently uncertain, and we are unable to predict the outcome of these lawsuits. We also cannot provide any assurance that the ultimate resolution of any lawsuits will not have a material adverse effect on our reputation, business, prospects, results of operations or financial condition. For additional information concerning contingencies and uncertainties, see Note 9 - Commitments and Contingencies, of the Notes to the Consolidated Financial Statements included in Part II, Item 8 of this Report. Item 4. MINE SAFETY DISCLOSURES Not applicable. 47 Table of Contents PART II