[144] Affirm Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) Form 144 filing reports a proposed sale of 184,200 common shares through Morgan Stanley Smith Barney LLC on 08/22/2025, with an aggregate market value of $13,721,058.00. The filing states these shares were acquired on 08/22/2025 by exercise of stock options and payment was made in cash on the same date. The issuer has 281,825,613 shares outstanding per the filing. The notice also discloses prior 10b5-1 sales by Michael Linford on 08/18/2025 totaling 10,800 shares for $864,000.00. The filer attests there is no undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Routine insider cash exercise followed by proposed sale; transaction size is small relative to total shares outstanding.

The filing documents a same-day option exercise and proposed sale of 184,200 common shares for an indicated aggregate value of $13.72 million through Morgan Stanley Smith Barney. The filing is procedural under Rule 144 and reports the broker, timing, and consideration as cash. The disclosure of a recent 10b5-1 sale of 10,800 shares for $864,000 by Michael Linford is included. Based solely on the filing, this is a voluntary liquidity event and a compliance disclosure; it does not provide financial results, forward guidance, or other operational updates.

Corporate Governance Expert

TL;DR: Proper Rule 144 notice documenting insider sale and 10b5-1 prior sales; no indications of governance or disclosure issues in the text.

The document meets Rule 144 disclosure requirements by specifying the class of securities, broker, number of shares, aggregate market value, outstanding shares, and acquisition details noting exercise of stock options and cash payment. It also includes the standard attestation regarding material nonpublic information. There are no statements in the filing suggesting any procedural noncompliance or undisclosed material matters.

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	184200	13721058.00	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			184200	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 MICHAEL LINFORD 650 California Street San Francisco CA 94108	Common	08/18/2025	10800	864000.00

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 does the AFRM Form 144 report?

The filing reports a proposed sale of 184,200 Affirm common shares through Morgan Stanley Smith Barney on 08/22/2025, aggregate value $13,721,058.00.

How were the 184,200 shares acquired?

The shares were acquired on 08/22/2025 by exercise of stock options and paid for in cash on the same date.

Who handled the proposed sale and on which exchange?

The broker listed is Morgan Stanley Smith Barney LLC and the securities exchange named is NASDAQ.

Does the filing disclose any prior sales by the seller?

Yes. It discloses 10b5-1 sales by Michael Linford on 08/18/2025 of 10,800 shares for $864,000.00.

How many shares does the issuer report outstanding?

The filing states 281,825,613 shares outstanding.