Affirm (AFRM) insider files Form 144 for 25,533-share sale; prior August sales disclosed

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) Form 144 notice: An individual acquired 25,533 shares of Affirm Class A common stock on 09/04/2025 through an employee stock option exercise and intends to sell those shares via Charles Schwab & Co., Inc. with an approximate aggregate market value of $2,316,126 and an approximate sale date of 09/04/2025 on NASDAQ. The filing also discloses prior open-market sales by the same person of 15,871 shares on 08/04/2025 for $1,190,325 and 22,725 shares on 08/29/2025 for $2,192,364. The filer certifies no undisclosed material information and notes the shares result from a cashless exercise handled by a broker.

Positive

• Full transactional detail provided: acquisition date, nature of acquisition, broker, sale amounts, and gross proceeds are disclosed
• Prior sales disclosed: the filing lists two August 2025 open-market sales with dates and proceeds, improving transparency
• Filer includes Rule 144 certification stating no known material non-public information

Negative

• Insider liquidity event: proposed sale of 25,533 shares (approx. $2.32M) and prior August sales (38,596 shares) indicate insider monetization
• Concentration of sales in short window: multiple transactions in August and an intended sale in early September may increase share supply near-term

Insights

Securities/Fundamentals Analyst

TL;DR: Insider exercised options and plans to sell 25,533 shares worth about $2.32M; recent August sales total 38,596 shares.

The filing documents an employee stock option exercise and an intended Rule 144 sale executed through Charles Schwab on NASDAQ. The two prior August transactions totaling 38,596 shares generated roughly $3.38M in gross proceeds. For investors, these are supply-side disclosures about insider liquidity rather than operational results; they do not provide performance metrics but show insider monetization activity and the use of a cashless exercise, which is common for option holders.

Corporate Governance / Compliance Analyst

TL;DR: Filing appears procedurally complete and includes the standard Rule 144 certifications about material non-public information.

The notice includes required details: acquisition date, manner of acquisition (employee option exercise), broker, intended sale date, and representation about material information. It confirms a broker-assisted cashless exercise and provides address and seller identity for prior sales. No regulatory exceptions or disclosures of material adverse facts are included; the statement that the filer does not possess undisclosed material information is present, aligning with Rule 144 disclosure expectations.

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 Stock	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	25533	2316126.00	284917717	09/04/2025	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 Stock	09/04/2025	Employee Stock Option Exercise	Affirm Holdings, Inc.			25533	09/04/2025	Broker Payment for Cashless Exercise

* 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	Affirm Holdings, Inc.	08/04/2025	15871	1190325.00
SIPHELELE N JIYANE 650 CALIFORNIA STREET SAN FRANCISCO CA 94108	Affirm Holdings, Inc.	08/29/2025	22725	2192364.00

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 the Form 144 for Affirm (AFRM) disclose?

The Form 144 discloses an intended Rule 144 sale of 25,533 Class A shares acquired on 09/04/2025 via an employee stock option exercise with an aggregate market value of $2,316,126, and prior sales of 15,871 shares on 08/04/2025 and 22,725 shares on 08/29/2025.

Who is the broker and where will the shares be sold?

The filing lists Charles Schwab & Co., Inc. as the broker and states the sale is expected to occur on NASDAQ.

How were the 25,533 shares acquired?

The shares were acquired on 09/04/2025 through an employee stock option exercise and the payment method is indicated as a broker payment for a cashless exercise.

How much did prior August 2025 sales generate?

The prior sales generated gross proceeds of $1,190,325 (08/04/2025 for 15,871 shares) and $2,192,364 (08/29/2025 for 22,725 shares).

Does the filer attest to possession of material non-public information?

Yes, the filer represents by signature that they do not know any material adverse information about the issuer that has not been publicly disclosed.