Affirm Holdings, Inc. (AFRM) promotes president without a raise
Rhea-AI Filing Summary
Affirm Holdings, Inc. (AFRM) reported that it issued a Shareholder Letter on August 27, 2026 covering its financial results for the fourth fiscal quarter ended June 30, 2026. The letter, furnished as Exhibit 99.1, includes non-GAAP financial measures with reconciliations to comparable GAAP metrics.
The company’s Board appointed Michael Linford as President effective August 27, 2026. He previously served as Chief Operating Officer since September 2024 and Chief Financial Officer from August 2018 to November 2024. In his new role, he adds oversight of legal, compliance, public affairs, revenue and global markets while continuing oversight of brand, communications, enterprise risk, finance, internal audit and people functions. Existing compensation arrangements for Mr. Linford remain unchanged, and he has no family relationships with directors or executive officers and no related-party transactions requiring disclosure. Libor Michalek continues to serve as President overseeing engineering, risk, operations, product and design and remains on the Board, and both executives report to CEO and Chair Max Levchin.
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8-K Event Classification
3 items: 2.02, 5.02, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Quarter end date: June 30, 2026
Shareholder Letter date: August 27, 2026
President appointment date: August 25, 2026
+4 more
7 metrics
Quarter end date
June 30, 2026
Fourth fiscal quarter end covered by the Shareholder Letter
Shareholder Letter date
August 27, 2026
Date Affirm issued the Shareholder Letter on quarterly results
President appointment date
August 25, 2026
Date the Board appointed Michael Linford as President
Effective date of new President role
August 27, 2026
Effective date for Michael Linford’s appointment as President
Former CFO tenure start
August 2018
Start of Michael Linford’s service as Chief Financial Officer
Former CFO tenure end
November 2024
End of Michael Linford’s service as Chief Financial Officer
COO role start
September 2024
Start of Michael Linford’s service as Chief Operating Officer
Key Terms
non-GAAP financial measures, furnished, Item 404(a) of Regulation S-K, Results of Operations and Financial Condition, +1 more
5 terms
non-GAAP financial measures financial
"includes certain non-GAAP financial measures. Reconciliations of these non-GAAP"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
furnished regulatory
"information in this Item 2.02 and in Exhibit 99.1 attached hereto shall not be deemed “filed”"
Item 404(a) of Regulation S-K regulatory
"material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K"
Results of Operations and Financial Condition financial
"Item 2.02. Results of Operations and Financial Condition. On August 27, 2026"
Inline XBRL technical
"Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
Earnings Snapshot
Fourth fiscal quarter ended June 30, 2026
FAQ
What did AFRM disclose about non-GAAP financial measures in this 8-K?
Affirm stated that the Shareholder Letter includes certain non-GAAP financial measures and that reconciliations to comparable GAAP measures are provided in the letter and its financial tables. The non-GAAP information is furnished, not filed, under the Exchange Act.
What executive leadership change did AFRM announce on August 25, 2026?
Affirm’s Board appointed Michael Linford to serve as President of the company, effective August 27, 2026. He previously served as Chief Operating Officer since September 2024 and as Chief Financial Officer from August 2018 to November 2024.
What responsibilities will Michael Linford have as President at AFRM?
As President, Michael Linford adds oversight of legal, compliance, public affairs, revenue and global markets to his responsibilities and continues to oversee brand, communications, enterprise risk, finance, internal audit and people functions, as described in the filing.
Did AFRM change Michael Linford’s compensation in connection with his promotion?
The filing states that the appointment did not result in any change to Michael Linford’s compensation arrangements. He continues to participate in Affirm’s existing executive compensation plans and arrangements on their current terms, as previously described in the October 24, 2025 proxy statement.
How will AFRM’s Presidents and CEO be organized after this leadership change?
After the change, Michael Linford serves as President with broad corporate, financial and commercial oversight, while Libor Michalek continues as President overseeing engineering, risk, operations, product and design. Both report to Max Levchin, the Chief Executive Officer and Chair of the Board.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 25, 2026
(Exact name of registrant as specified in charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (415 ) 960-1518
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading symbol(s) | Name of exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 27, 2026, Affirm Holdings, Inc. (the "Company") issued a Shareholder Letter (the "Letter") regarding its financial results for the fourth fiscal quarter ended June 30, 2026. A copy of the Letter is attached hereto as Exhibit 99.1, and the information in Exhibit 99.1 is incorporated herein by reference.
The Letter attached hereto as Exhibit 99.1 includes certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are contained in the Letter and the financial tables attached thereto.
The information in this Item 2.02 and in Exhibit 99.1 attached hereto shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 25, 2026, the Board of Directors (the “Board”) of the Company appointed Michael Linford to serve as President of the Company, effective August 27, 2026.
Mr. Linford served as the Company’s Chief Operating Officer from September 2024 until his appointment as President, prior to which he served as the Company’s Chief Financial Officer from August 2018 until November 2024. In connection with his promotion to the role of President, Mr. Linford adds oversight of the Company’s legal, compliance, public affairs, revenue and global markets functions to his responsibilities and continues his oversight of the Company’s brand, communications, enterprise risk, finance, internal audit and people functions. Additional biographical information for Mr. Linford is included in the Company’s proxy statement that was filed on October 24, 2025.
Libor Michalek continues to serve as President of the Company overseeing the Company’s engineering, risk, operations, product and design functions and as a member of the Company’s Board.
Messrs. Linford and Michalek report to Max Levchin, the Company’s Chief Executive Officer and Chair of the Company’s Board, who continues to set the Company’s vision and strategic direction.
This appointment did not result in any change to the compensation arrangements of Mr. Linford. He will continue to participate in the Company’s existing executive compensation plans and arrangements on their current terms, as described in the Company’s proxy statement filed on October 24, 2025.
There are no family relationships between either Mr. Linford and any director or executive officer of the Company. Mr. Linford does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Shareholder Letter dated August 27, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AFFIRM HOLDINGS, INC. | ||||||||
| By: | /s/ Rob O’Hare | |||||||
| Name: Rob O’Hare | ||||||||
| Title: Chief Financial Officer | ||||||||
Date: August 27, 2026
