Affirm president settles RSUs for 11,364 shares
Affirm’s president settled RSUs into Class A shares, with a portion withheld for taxes and substantial holdings reported through a family trust.
Rhea-AI Filing Summary
Affirm Holdings, Inc. (AFRM) reported that President and director Libor Michalek settled restricted stock units (RSUs) into 11,364 shares of Class A Common Stock on September 1, 2026 through derivative exercises. The RSUs convert on a one-for-one basis into Class A shares.
Of the acquired shares, 5,784 shares were delivered or withheld to satisfy Michalek’s tax obligations at a price of $69.94 per share, and no Rule 10b5-1 trading plan is reported. Following these transactions, 868,114 Class A shares are held indirectly by the Michalek 2007 Family Trust, for which Michalek and his spouse serve as trustees.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,364 shares exercised/converted
Exercise
6 txns
Insider
Michalek Libor
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F3, F4 | 2,338 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3, F5 | 5,319 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3, F6 | 3,707 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 11,364 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F1 | 5,784 | $69.94 | $405K |
| holding | Class A Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 72,215 contracts (Direct);
Class A Common Stock — 230,477 shares (Direct);
Class A Common Stock — 868,114 shares (Indirect, Michalek 2007 Trust dated March 21, 2007)
Footnotes (6)
- F1. Represents the number of shares of the Issuer's Common Stock withheld to satisfy the Reporting Person's tax obligation in connection with the settlement of shares of Common Stock underlying the Reporting Person's restricted stock units that vested on September 1, 2026.
- F2. The shares are held by the Michalek 2007 Family Trust dated March 21, 2007. The Reporting Person and his spouse are trustees of the trust.
- F3. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class A Common Stock.
- F4. The RSUs vest in 48 equal monthly installments beginning October 1, 2022, subject to the Reporting Person's continuous service with the Issuer as of each vesting date. This grant has no expiration date.
- F5. The RSUs vest in 16 equal quarterly installments beginning September 1, 2025, subject to the Reporting Person's continuous service with the Issuer as of each vesting date. This grant has no expiration date.
- F6. RSUs vest in equal quarterly installments for a period of three years beginning December 1, 2025, the vesting commencement date, subject to the Reporting Person's continued employment with the Issuer as of each vesting date.
Key Figures
Class A shares acquired from RSU settlement: 11,364 shares
Shares withheld or delivered for taxes: 5,784 shares
Tax withholding price: $69.94 per share
+4 more
7 metrics
Class A shares acquired from RSU settlement
11,364 shares
Shares of Affirm Class A Common Stock received on September 1, 2026 via RSU exercises
Shares withheld or delivered for taxes
5,784 shares
Class A shares used to satisfy tax obligations on RSU vesting that occurred on September 1, 2026
Tax withholding price
$69.94 per share
Price applied to 5,784 shares delivered or withheld for Michalek’s tax obligations
Indirect Class A share holdings
868,114 shares
Affirm Class A Common Stock held by the Michalek 2007 Family Trust after the reported transactions
Monthly vesting schedule
48 installments
One RSU grant vests in 48 equal monthly installments beginning October 1, 2022
Quarterly vesting schedule (16 installments)
16 installments
One RSU grant vests in 16 equal quarterly installments beginning September 1, 2025
Three-year quarterly vesting period
3 years
Another RSU grant vests in equal quarterly installments over three years beginning December 1, 2025
Key Terms
Restricted Stock Unit (RSU), Class A Common Stock, withheld to satisfy the Reporting Person's tax obligation, indirect ownership, +1 more
5 terms
Restricted Stock Unit (RSU) financial
"Each Restricted Stock Unit (RSU) represents a contingent right to receive one share"
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
Class A Common Stock financial
"Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's 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.
withheld to satisfy the Reporting Person's tax obligation financial
"Represents the number of shares of the Issuer's Common Stock withheld to satisfy the Reporting Person's tax obligation"
indirect ownership financial
"The shares are held by the Michalek 2007 Family Trust dated March 21, 2007"
continuous service financial
"subject to the Reporting Person's continuous service with the Issuer as of each vesting date"
FAQ
What did AFRM President Libor Michalek report in this Form 4?
Michalek reported the settlement of restricted stock units into 11,364 shares of Affirm Class A Common Stock on September 1, 2026, plus a related share withholding transaction to cover tax obligations and updated indirect holdings through a family trust.
What is Libor Michalek’s indirect ownership in AFRM after these transactions?
After these transactions, 868,114 shares of Affirm Class A Common Stock are held indirectly by the Michalek 2007 Family Trust, for which Michalek and his spouse act as trustees.
Were Libor Michalek’s AFRM transactions under a Rule 10b5-1 plan?
No. The filing indicates that no Rule 10b5-1 trading plan is reported for these transactions, meaning they were not affirmed as pre-arranged under such a plan.
How do the RSUs for AFRM vested in this Form 4?
The filing notes RSU grants that vest in 48 equal monthly installments beginning October 1, 2022, in 16 equal quarterly installments beginning September 1, 2025, and in equal quarterly installments over three years beginning December 1, 2025, subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
