[144] Affirm Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for proposed sale of 77,800 common shares executed through Morgan Stanley Smith Barney LLC with an approximate aggregate market value of $5,795,322.00. The securities were reported as acquired by exercise of stock options on 08/22/2025 and payment was in cash on 08/22/2025. The filing lists the approximate date of sale as 08/22/2025 and reports 281,825,613 shares outstanding for the class. The form also discloses two recent 10b5-1 sales by Robert Warren Ohare: 11,405 shares on 08/18/2025 for $912,400.00 and 19,802 shares on 07/07/2025 for $1,386,709.24. The filer attests no undisclosed material adverse information and references Rule 10b5-1 conditions where applicable.

Positive

• Transparency of insider transactions through Form 144 filing
• Discloses recent 10b5-1 sales (11,405 shares on 08/18/2025 and 19,802 shares on 07/07/2025), indicating planned dispositions
• Broker identified for the proposed sale: Morgan Stanley Smith Barney LLC

Negative

• Filing does not state the name of the person for whose account the securities are to be sold in the issuer information section
• No date of Rule 10b5-1 plan adoption or instruction is provided in the remarks, so reliance timing cannot be confirmed from this filing

Insights

Financial Analyst

TL;DR: Routine insider sale following option exercise; transaction size and recent 10b5-1 sales are disclosed, suggesting liquidity events rather than operational news.

The filing documents a proposed sale of 77,800 shares acquired via option exercise on 08/22/2025 with cash payment the same day and an aggregate market value of $5,795,322.00. Disclosure of two recent 10b5-1 sales by Robert Warren Ohare (11,405 shares for $912,400.00 on 08/18/2025 and 19,802 shares for $1,386,709.24 on 07/07/2025) provides context that the seller has been executing planned dispositions. From a financial-analyst perspective, these are transaction-level disclosures and do not provide operating metrics or guidance; impact on per-share supply and market float appears limited given the stated shares outstanding of 281,825,613, but no trading strategy details or plan adoption dates are provided in the filing.

Corporate Governance Expert

TL;DR: Proper Form 144 mechanics observed; reliance on Rule 10b5-1 is implied by past sales but plan dates are not explicitly stated in the filing.

The filing includes the required seller attestations and identifies the broker (Morgan Stanley Smith Barney LLC). It documents acquisition by option exercise and immediate proposed sale, and it discloses prior 10b5-1 sales by the same individual. Good governance practice is reflected in the filing of Form 144 itself and the 10b5-1 disclosures; however, the form does not include explicit dates for any trading plan adoption within the remarks section, so the record does not show the plan adoption date within this filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	77800	5795322.00	281825613	08/22/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/22/2025	Exercise of Stock Options	Issuer			77800	08/22/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for ROBERT WARREN OHARE 650 California Street San Francisco CA 94108	Common	08/18/2025	11405	912400.00
10b5-1 Sales for ROBERT WARREN OHARE 650 California Street San Francisco CA 94108	Common	07/07/2025	19802	1386709.24

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is being proposed to be sold in the AFRM Form 144?

The filing proposes sale of 77,800 common shares with an aggregate market value of $5,795,322.00 and an approximate sale date of 08/22/2025.

How were the 77,800 AFRM shares acquired?

The shares were acquired by exercise of stock options on 08/22/2025 and payment was made in cash on 08/22/2025.

Who is the broker handling the proposed sale?

The broker named is Morgan Stanley Smith Barney LLC (Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004).

Were there recent insider sales related to AFRM reported in the filing?

Yes. The filing discloses two 10b5-1 sales by Robert Warren Ohare: 11,405 shares on 08/18/2025 for $912,400.00 and 19,802 shares on 07/07/2025 for $1,386,709.24.

How many AFRM shares are outstanding according to the filing?

The filing reports 281,825,613 shares outstanding for the class.