[144] Affirm Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for proposed sale of securities by an insider. The filing reports an offer to sell 11,405 shares of common stock on NASDAQ through Morgan Stanley Smith Barney LLC with an aggregate market value of $897,801.60. The shares represent a tiny fraction of the issuer's outstanding common stock (reported as 281,825,613 shares). The securities were acquired and are proposed to be sold on 08/18/2025 following an exercise of stock options, with payment described as cash. The form also discloses prior 10b5-1 sales of 19,802 shares on 07/07/2025 yielding $1,386,709.24. The signer represents no undisclosed material adverse information and references Rule 10b5-1 procedures.

Insights

Securities Analyst

TL;DR: Proposed sale is small relative to outstanding shares and appears routine following option exercise.

The notice documents an insider-issued sale of 11,405 shares via a broker on NASDAQ after exercising stock options and paying cash for the shares. The aggregate value (~$0.9M) and number of shares are immaterial versus the reported 281.8M shares outstanding, so this transaction alone is unlikely to move market valuation or indicate a change in corporate fundamentals. The disclosure of recent 10b5-1 sales totaling 19,802 shares and proceeds of $1.39M shows the insider has used prearranged trading mechanisms recently.

Corporate Governance Expert

TL;DR: Filing follows standard Rule 144 and 10b5-1 procedures; no governance red flags in the notice itself.

The form includes the standard certification that the seller is unaware of material nonpublic information and notes reliance on Rule 10b5-1-related sales in the prior quarter. The document lists the executing broker and discloses acquisition via option exercise on the same date as the proposed sale, with cash payment. There is no disclosure in this notice of unusual timing, deferred consideration, or related-party transfers that would raise immediate governance concerns.

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	11405	897801.60	281825613	08/18/2025	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	08/18/2025	Exercise of Stock Options	Issuer			11405	08/18/2025	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	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 securities does the Form 144 for AFRM propose to sell?

The form proposes sale of 11,405 common shares of the issuer on NASDAQ.

Which broker will execute the proposed sale reported on the Form 144?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza.

How were the shares to be sold acquired according to the filing?

The shares were acquired by exercise of stock options on 08/18/2025, with payment in cash.

Did the filer sell any issuer shares in the past three months?

Yes; the filing discloses 10b5-1 sales of 19,802 shares on 07/07/2025 for gross proceeds of $1,386,709.24.

What is the aggregate market value of the proposed sale?

The aggregate market value reported is $897,801.60 for the 11,405 shares.