Affirm COO sells 79K shares after option exercise
Rhea-AI Filing Summary
Affirm Holdings, Inc. (AFRM) executive Michael Linford, Chief Operating Officer, exercised options and sold the resulting shares. On 2026-08-28 he exercised 79,219 stock options for Class A Common Stock at an exercise price of $5.39 per share, leaving 354,651 options outstanding from this grant, expiring on 2028-08-26. The same day he sold 79,219 Class A shares at a weighted average price between $90.00 and $90.09 per share pursuant to a Rule 10b5-1 trading plan adopted on December 9, 2025.
Positive
- None.
Negative
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Insider Trade Summary 10b5-1
Exercise and Sale: 79,219 shares ($6.70M approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Linford Michael
Role
Chief Operating Officer
Sold
79,219 shs ($7.13M)
Approx. gross sale proceeds
$7.13M
Approx. exercise cost
$427K
Approx. pre-tax spread
$6.70M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F1, F3 | 79,219 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1 | 79,219 | $5.39 | $427K |
| Sale | Class A Common Stock F1, F2 | 79,219 | $90.01 | $7.13M |
Holdings After Transaction:
Stock Option (Right to Buy) — 354,651 shares (Direct);
Class A Common Stock — 120,713 shares (Direct)
Footnotes (3)
- F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 9, 2025.
- F2. Represents the weighted average sale price of the shares sold from $90.00 to $90.09 per share. The Reporting Person will provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F3. Stock options vest with respect to 1/4 of the shares of the Issuer's Class A common stock, par value $0.00001 per share ("Class A Common Stock"), underlying the stock option on the one-year anniversary of August 27, 2018, the vesting commencement date, and the remaining 3/4 of the shares underlying the option vest in equal monthly installments over the subsequent three years, in each case subject to continued service with the Issuer. 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.
Key Figures
Options exercised: 79,219 shares
Exercise price: $5.39 per share
Options remaining after transaction: 354,651 options
+4 more
7 metrics
Options exercised
79,219 shares
Stock Option (Right to Buy) for Class A Common Stock exercised on 2026-08-28
Exercise price
$5.39 per share
Conversion or exercise price of stock options exercised on 2026-08-28
Options remaining after transaction
354,651 options
Total stock options following the 2026-08-28 exercise for this grant
Shares sold
79,219 shares
Class A Common Stock sold on 2026-08-28
Weighted average sale price range
$90.00–$90.09 per share
Weighted average price range for the shares sold on 2026-08-28
Option expiration date
2028-08-26
Expiration date of the stock option grant from which 79,219 options were exercised
10b5-1 plan adoption date
December 9, 2025
Adoption date of the Rule 10b5-1 trading plan used for the reported sales
Key Terms
Rule 10b5-1 trading plan, weighted average sale price, Stock Option (Right to Buy), Class A Common Stock, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported ... were effected pursuant to a Rule 10b5-1 trading plan..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sale price financial
"Represents the weighted average sale price of the shares sold from $90.00..."
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
Class A Common Stock financial
"underlying_security_title: Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
vesting commencement date financial
"the one-year anniversary of August 27, 2018, the vesting commencement date..."
The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.
FAQ
What did AFRM executive Michael Linford report in this Form 4?
He reported exercising 79,219 stock options for Affirm Holdings, Inc. Class A Common Stock at an exercise price of $5.39 per share and selling 79,219 shares on 2026-08-28 under a Rule 10b5-1 trading plan.
What options did Michael Linford exercise in Affirm Holdings (AFRM)?
He exercised 79,219 stock options for AFRM Class A Common Stock at an exercise (conversion) price of $5.39 per share. These options are part of a grant that expires on 2028-08-26 and vests over four years from an August 27, 2018 vesting commencement date.
How many options does Michael Linford still hold after this AFRM transaction?
After exercising 79,219 options, the reported remaining position from this option grant is 354,651 stock options for AFRM Class A Common Stock, as of the 2026-08-28 transaction date.
Was Michael Linford’s AFRM stock sale under a Rule 10b5-1 plan?
Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Michael Linford on December 9, 2025, indicating the trades were pre-arranged under that plan.
What is Michael Linford’s role at Affirm Holdings (AFRM)?
Michael Linford is identified in the filing as an officer of Affirm Holdings, Inc., serving as the company’s Chief Operating Officer at the time of the reported transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
