Affirm CFO Exercises Options; Sells 25,533 Shares at $90.71 Avg

Rhea-AI Filing Summary

Jiyane Siphelele, Chief Accounting Officer of Affirm Holdings, Inc. (AFRM), reported option exercises and a subsequent sale on 09/04/2025. The Form 4 shows the exercise of a stock option with a $1.68 exercise price for 14,367 shares and a stock option with a $5.39 exercise price for 11,166 shares. Those exercises increased the reported holdings to 252,000 shares before a sale of 25,533 Class A common shares at a weighted average price of $90.71, leaving 226,467 shares beneficially owned after the transactions. The filing includes an explanatory footnote that the $90.71 price is a weighted average of sales from $90.62 to $90.83. The Form 4 was signed by attorney-in-fact Josh Samples on 09/08/2025.

Positive

• Transparent disclosure of option exercises, sale, and resulting beneficial ownership, including weighted average sale price range
• Detailed footnote clarifies weighted average sale price and vesting schedule for the $5.39 option

Negative

• Insider sale of 25,533 shares reduces reported holdings from 252,000 to 226,467 shares
• No information in the filing about the purpose of the sale or use of proceeds

Insights

Securities Analyst

TL;DR: Routine insider option exercises followed by an open-market sale; material only to ownership statistics.

The Form 4 documents the exercise of two option tranches and an immediate or contemporaneous sale of the combined exercised shares. The reporting shows 14,367 shares exercised at $1.68 and 11,166 shares exercised at $5.39, then a sale of 25,533 shares at a weighted average of $90.71, resulting in 226,467 shares owned after the transactions. This is a standard securities disclosure that updates insider beneficial ownership; it contains no new financial results or operational changes.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting by identifying exercise, sale, and post-transaction ownership.

The filing identifies the reporting person, relationship to the issuer (Chief Accounting Officer), transaction dates, prices, and quantities, meeting Form 4 content requirements. The explanatory footnotes clarify the weighted average sale price and vesting schedule of the $5.39 option. The signature by an attorney-in-fact is included. There are no governance actions, departures, grants beyond exercised options, or other corporate governance events disclosed.

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

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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).

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^*

Jiyane Siphelele

(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 Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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	09/04/2025		M		14,367	A	$1.68	240,834	D
Class A Common Stock	09/04/2025		M		11,166	A	$5.39	252,000	D
Class A Common Stock	09/04/2025		S		25,533	D	$90.71(1)	226,467	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)	$1.68	09/04/2025		M			14,367	07/05/2017	08/24/2026	Class A Common Stock	14,367	$0	0	D
Stock Option (Right to Buy)	$5.39	09/04/2025		M			11,166	(2)	02/12/2028	Class A Common Stock	11,166	$0	0	D

Explanation of Responses:

1. Represents the weighted average sale price of the shares sold from $90.62 to $90.83 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.

2. The stock option vested with respect to the shares of Class A Common Stock underlying the stock option in equal monthly installments for a period of forty-eight months beginning on November 1, 2017, subject to the Reporting Person's continued employment with the Issuer as of each vesting date.

Remarks:

	/s/ Josh Samples, Attorney-in-Fact	09/08/2025
	** 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).
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 transactions did AFRM insider Jiyane Siphelele report on the Form 4?

The Form 4 reports the exercise of 14,367 options at $1.68 and 11,166 options at $5.39, followed by a sale of 25,533 Class A shares.

How many AFRM shares does Jiyane Siphelele beneficially own after the reported transactions?

The filing reports 226,467 shares of Class A common stock owned following the transactions.

At what price were the shares sold according to the Form 4?

The shares were sold at a weighted average price of $90.71, representing sales in the range of $90.62 to $90.83 per share.

When did the transactions occur and when was the Form 4 signed?

The transactions are dated 09/04/2025 and the Form 4 bears a signature by attorney-in-fact Josh Samples dated 09/08/2025.

What is the relationship of the reporting person to Affirm (AFRM)?

The Form 4 identifies Jiyane Siphelele as an Officer with the title Chief Accounting Officer.

Does the filing explain the vesting schedule for the exercised options?

Yes. A footnote states the $5.39 option vested in equal monthly installments over 48 months beginning November 1, 2017, subject to continued employment.