Affirm (AFRM) COO exercises 20,000 options and increases share holdings

Rhea-AI Filing Summary

Affirm Holdings, Inc.'s Chief Operating Officer Michael Linford reported a non-market exercise and hold of stock options. On February 9, 2026, he exercised options for 20,000 shares of Class A Common Stock at $49 per share, increasing his directly held Class A shares to 100,269. The related stock option award, with a $49 exercise price and expiring on January 11, 2031, now covers 263,751 derivative securities. The options vest 5% six months after January 1, 2021, with the remaining portions vesting quarterly over four years in annual amounts of 15%, 20%, 30% and 30%, subject to continued employment.

Insider Trade Summary

20,000 shares exercised/converted

Mixed 2 txns

Insider Linford Michael

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	20,000	$0.00	--
Exercise	Class A Common Stock	20,000	$49.00	$980K

Holdings After Transaction: Stock Option (Right to Buy) — 263,751 shares (Direct); Class A Common Stock — 100,269 shares (Direct)

Footnotes (1)

1. The reporting person executed a non-market exercise and hold transaction with respect to these stock options and the underlying shares. Stock options vest with respect to 5% of the shares of Class A Common Stock underlying the stock option on the six-month anniversary of January 1, 2021, the vesting commencement date, and the remainder of the grant will vest in quarterly installments over a period of four years, in annual aggregate amounts equal to 15%, 20%, 30% and 30%, respectively, subject to the Reporting Person's continued employment with the Issuer as of each vesting date. The Reporting Person can elect to exercise the stock options at any time, provided that the shares acquired upon exercise remain subject to the applicable vesting schedule.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Linford Michael

(Last) (First) (Middle)

C/O AFFIRM HOLDINGS, INC.

650 CALIFORNIA STREET

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Affirm Holdings, Inc. [ AFRM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/09/2026		M		20,000	A	$49	100,269	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$49	02/09/2026		M			20,000(1)	(2)	01/11/2031	Class A Common Stock	20,000	$0	263,751	D

Explanation of Responses:

1. The reporting person executed a non-market exercise and hold transaction with respect to these stock options and the underlying shares.

2. Stock options vest with respect to 5% of the shares of Class A Common Stock underlying the stock option on the six-month anniversary of January 1, 2021, the vesting commencement date, and the remainder of the grant will vest in quarterly installments over a period of four years, in annual aggregate amounts equal to 15%, 20%, 30% and 30%, respectively, subject to the Reporting Person's continued employment with the Issuer as of each vesting date. The Reporting Person can elect to exercise the stock options at any time, provided that the shares acquired upon exercise remain subject to the applicable vesting schedule.

Remarks:

	/s/ Josh Samples, Attorney-in-Fact	02/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Affirm (AFRM) COO Michael Linford report in this Form 4?

Michael Linford reported exercising stock options to acquire 20,000 shares of Affirm Class A Common Stock. This was a non-market exercise and hold transaction, meaning he converted options into shares without selling them in the open market and retained the underlying stock.

How many Affirm (AFRM) Class A shares does Michael Linford own after this transaction?

After the reported transaction, Michael Linford directly owns 100,269 shares of Affirm Class A Common Stock. This figure reflects his beneficial ownership immediately following the non-market exercise and hold of 20,000 shares from previously granted stock options.

What were the key terms of the exercised Affirm (AFRM) stock options?

The exercised stock options had a $49 exercise price and expire on January 11, 2031. They relate to Class A Common Stock and are part of a larger grant that continues to vest over several years, subject to Michael Linford’s continued employment with Affirm.

How many Affirm (AFRM) stock options does Michael Linford hold after this filing?

Following the transaction, Michael Linford holds 263,751 derivative securities in the form of stock options. These options are rights to buy Affirm Class A Common Stock and remain outstanding after the partial 20,000-share exercise reported in this Form 4.

How do Michael Linford’s Affirm (AFRM) options vest over time?

The options vest 5% six months after January 1, 2021, the vesting commencement date. The remaining portion vests quarterly over four years, in annual aggregate amounts of 15%, 20%, 30% and 30%, conditioned on his continued employment with Affirm at each vesting date.

Was Michael Linford’s Affirm (AFRM) stock option exercise an open-market purchase?

No, the filing describes the event as a non-market exercise and hold transaction. This means he exercised stock options to receive shares at the option exercise price, but did not buy them in the open market or sell the resulting shares in the same transaction.