Max R. Levchin - Aug 18, 2025 Form 4 Insider Report for Affirm Holdings, Inc. (AFRM)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Josh Samples, Attorney-in-Fact
Stock symbol
AFRM
Transactions as of
Aug 18, 2025
Transactions value $
-$464,291
Form type
4
Date filed
8/20/2025, 06:02 PM
Next filing
Aug 22, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Levchin Max R Chief Executive Officer, Director, 10%+ Owner C/O AFFIRM HOLDINGS, INC., 650 CALIFORNIA STREET, SAN FRANCISCO /s/ Josh Samples, Attorney-in-Fact 2025-08-20 0001539853

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AFRM Class A Common Stock Options Exercise $733K +15K $49.00 15K Aug 18, 2025 Direct F1
transaction AFRM Class A Common Stock Sale -$1.2M -15K -100% $80.05 0 Aug 18, 2025 Direct F1, F2
holding AFRM Class A Common Stock 735K Aug 18, 2025 By Levchin 2012 Irrevocable Trust F3

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 Performance Based Stock Options Options Exercise $0 -15K -0.12% $0.00 12.5M Aug 18, 2025 Class A Common Stock 15K $49.00 Direct F1, F4
* 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 March 17, 2025.
F2 Represents the weighted average sale price of the shares sold from $80.00 to $80.105 per share. The Reporting Person will provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 As joint settlors of the Levchin 2012 Irrevocable Trust, the Reporting Person and his spouse jointly have the right to acquire the shares held by the trust but do not have voting or investment power over such shares. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F4 The Reporting Person was granted a multi-year performance-based stock option (the "Value Creation Award") on January 12, 2021. The Value Creation Award is divided into ten tranches which the Reporting Person may earn by satisfying a performance condition within a five-year period from the date of grant, subject to the Reporting Person's continued service to the Issuer. The earned tranches of the Value Creation Award becomes vested and exercisable upon the satisfaction of a time condition. Any portion of the Value Creation Award that has not been earned by the fifth anniversary of the grant date will be forfeited. As of August 20, 2025, the Reporting Person has earned 4,000,000 stock options, all of which have vested.