AFRM Form 144: Siphelele N Jiyane to Offer 12,500 Class A Shares

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) Form 144 shows that Siphelele N Jiyane intends to sell 12,500 Class A common shares via Morgan Stanley Smith Barney on 09/15/2025 with an aggregate market value of $1,067,710.00. The securities were acquired on 04/01/2024 upon restricted stock vesting under a registered plan for services rendered. The filing reports prior sales by the same person of 22,725 shares on 08/29/2025 and 15,871 shares on 08/04/2025 with gross proceeds of $2,190,994.50 and $1,189,366.24, respectively. The form states there is no undisclosed material adverse information known to the seller.

Positive

• Full Rule 144 disclosure provided including acquisition date, nature of acquisition, broker, and past three months sales
• Securities were acquired through restricted stock vesting, indicating compensation rather than open-market purchase or related-party transfer
• Seller represents no undisclosed material adverse information, aligning with required certifications under the form

Negative

• Insider selling activity with recent sales of 22,725 and 15,871 shares in August 2025 may be perceived negatively by some investors
• Proposed sale proceeds exceed $1.06 million, representing insider monetization which could signal personal liquidity needs rather than confidence

Insights

Financial Analyst

TL;DR: Routine insider sale of vested restricted shares; size is immaterial relative to total outstanding shares.

The proposed sale of 12,500 shares equals approximately 0.0038% of the reported 325,650,314 shares outstanding, indicating a small dilution or liquidity event rather than a material change in ownership. The shares were acquired via restricted stock vesting for services rendered, a common compensation outcome. Recent sales in August 2025 indicate ongoing monetization by the insider, but gross proceeds reported suggest this is personal liquidity rather than a corporate financing event. Overall, this filing is informative for tracking insider activity but unlikely to be material to company valuation on its own.

Compliance/Risk Analyst

TL;DR: Filing complies with Rule 144 disclosure; no indication of undisclosed material adverse information.

The form includes required disclosure elements: acquisition details, nature of acquisition (restricted stock vesting), broker information, past three months sales, and the seller's representation regarding material nonpublic information. Use of an established broker and explicit statement that no undisclosed material adverse information is known reduces procedural compliance risk. Investors should note continuing insider sales disclosed, which are properly documented here.

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
Class A Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	12500	1067710.00	325650314	09/15/2025	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 *
Class A Common	04/01/2024	Restricted stock vesting under a registered plan	Issuer			12500	04/01/2024	Services Rendered

* 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
SIPHELELE N JIYANE 650 California Street San Francisco CA 94108	Class A Common	08/29/2025	22725	2190994.50
SIPHELELE N JIYANE 650 California Street San Francisco CA 94108	Class A Common	08/04/2025	15871	1189366.24

144: Remarks and Signature

Remarks

Date of Notice

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 does Affirm's (AFRM) Form 144 filed by Siphelele N Jiyane disclose?

The filing discloses an intended sale of 12,500 Class A shares on 09/15/2025 via Morgan Stanley Smith Barney with an aggregate market value of $1,067,710.00.

When and how were the 12,500 shares acquired?

The shares were acquired on 04/01/2024 through restricted stock vesting under a registered plan as payment for services rendered.

Has the same insider sold Affirm shares recently?

Yes. The filing reports sales of 22,725 shares on 08/29/2025 (gross proceeds $2,190,994.50) and 15,871 shares on 08/04/2025 (gross proceeds $1,189,366.24).

How material is the proposed sale relative to Affirm's outstanding shares?

The proposed 12,500-share sale represents about 0.0038% of the reported 325,650,314 shares outstanding, a very small percentage.

Does the Form 144 indicate any undisclosed material adverse information?

The seller certifies that they do not know of any material adverse information about the issuer that has not been publicly disclosed.