[Form 4] Affirm Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) Form 4 summary: On 08/18/2025, Robert O'Hare, CFO, reported transactions effected under a Rule 10b5-1 plan adopted December 6, 2024. The Form 4 shows acquisitions and a subsequent sale: 10,414 shares of Class A common stock were reported acquired at $49 and 991 shares acquired at $57.59, followed by a sale of 11,405 shares at $80, leaving 0 shares of Class A common stock beneficially owned on a non-derivative basis. The filing also discloses stock options: a $49 option covering 10,414 shares and a $57.59 option covering 991 shares; the filing reports 20,829 and 29,071 derivative securities beneficially owned following the transactions, respectively. Vesting schedules and exercise conditions are described in the explanations.

Insights

Financial Analyst

TL;DR: Insider sold shares under a pre-established 10b5-1 plan; transactions appear structured and routine, not an ad hoc disposition.

The Form 4 shows the CFO executed planned transactions on 08/18/2025 under a 10b5-1 plan adopted 12/06/2024, acquiring interests via option-related exercises at $49 and $57.59 and immediately selling an aggregate 11,405 shares at $80, resulting in zero non-derivative Class A shares held. The filing also documents outstanding stock options and explicit vesting schedules, which clarify future potential dilution and timing of additional option-related activity. For investors, this is notable for transparency on insider liquidity but does not itself indicate a material change to company operations or financial condition.

Corporate Governance Expert

TL;DR: Transactions follow a documented 10b5-1 plan with detailed vesting terms, consistent with standard insider compliance practices.

The reporting highlights compliance with affirmative defense conditions by citing a 10b5-1 plan adopted 12/06/2024 and provides detailed vesting schedules for two option grants (one with staged annual aggregates and one with 48 monthly installments). The signature by an attorney-in-fact and the explicit explanation of plan-driven sales support procedural conformity. Governance implications are limited: the filing improves disclosure of insider liquidity and option terms but contains no indication of impropriety or governance changes.

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

X

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^*

O'Hare Robert

(Last) (First) (Middle)

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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		M		10,414(1)	A	$49	10,414	D
Class A Common Stock	08/18/2025		M		991(1)	A	$57.59	11,405	D
Class A Common Stock	08/18/2025		S		11,405(1)	D	$80	0	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	08/18/2025		M			10,414(1)	(2)	01/13/2031	Class A Common Stock	10,414	$0	20,829	D
Stock Option (Right to Buy)	$57.59	08/18/2025		M			991(1)	(3)	(3)	Class A Common Stock	991	$0	29,071	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 6, 2024.

2. Stock option vests 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 option at any time, provided that the shares acquired upon exercise remain subject to the applicable vesting schedule.

3. The stock options vest in 48 equal monthly installments beginning December 1, 2024, subject to the Reporting Person's continuous service with the Issuer as of each vesting date.

Remarks:

	/s/ Josh Samples, Attorney-in-Fact	08/20/2025
	** 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).
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