Michael Linford - 27 Dec 2023 Form 4 Insider Report for Affirm Holdings, Inc. (AFRM)

Role
Chief Financial Officer
Signature
/s/ David Ritenour, Attorney-in-Fact
Issuer symbol
AFRM
Transactions as of
27 Dec 2023
Transactions value $
-$3,029,650
Form type
4
Filing time
29 Dec 2023, 18:00:36 UTC
Previous filing
19 Dec 2023
Next filing
03 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AFRM Class A Common Stock Options Exercise $350K +65K +65.61% $5.39 164K 27 Dec 2023 Direct
transaction AFRM Class A Common Stock Sale -$3.38M -65K -39.62% $52.00 99.1K 27 Dec 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AFRM Stock Option (Right to Buy) Options Exercise $0 -65K -5.44% $0.00 1.13M 27 Dec 2023 Class A Common Stock 65K $5.39 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 15, 2023.
F2 Stock options vest with respect to 1/4 of the shares of the Issuer's Class A common stock, par value $0.00001 per share ("Class A Common Stock"), underlying the stock option on the one-year anniversary of August 27, 2018, the vesting commencement date, and the remaining 3/4 of the shares underlying the option vest in equal monthly installments over the subsequent three years, in each case subject to continued service with the Issuer. The Reporting Person can elect to exercise the stock options at any time, provided that the shares acquired upon exercise remain subject to the applicable vesting schedule.