Michael Linford - 18 Aug 2025 Form 4 Insider Report for Affirm Holdings, Inc. (AFRM)

Role: Chief Operating Officer
Signature: /s/ Josh Samples, Attorney-in-Fact
Issuer symbol: AFRM
Transactions as of: 18 Aug 2025
Transactions value $: -$805,788
Form type: 4
Filing time: 20 Aug 2025, 18:02:29
Previous filing: 05 Aug 2025
Next filing: 22 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Linford Michael	Chief Operating Officer	C/O AFFIRM HOLDINGS, INC., 650 CALIFORNIA STREET, SAN FRANCISCO	/s/ Josh Samples, Attorney-in-Fact	20 Aug 2025	0001715913

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AFRM	Class A Common Stock	Options Exercise	$58.2K	+10.8K	+9.83%	$5.39	121K	18 Aug 2025	Direct	F1
transaction	AFRM	Class A Common Stock	Sale	-$864K	-10.8K	-8.95%	$80.00	110K	18 Aug 2025	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	-10.8K	-1.48%	$0.00	718K	18 Aug 2025	Class A Common Stock	10.8K	$5.39	Direct	F1, 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 February 14, 2025.
F2	Stock options vest with respect to 1/4 of the shares of the Issuer's 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.

Content

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 14, 2025.

Stock options vest with respect to 1/4 of the shares of the Issuer's 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.