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

Affirm legal chief sells 83K shares after option exercise

Affirm’s chief legal officer exercised options and RSUs and sold over 80,000 Class A shares in early September 2026 under a pre-set Rule 10b5-1 plan.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) reported that Chief Legal Officer Katherine Adkins exercised stock options and vested restricted stock units into Class A common stock and sold shares in early September 2026. On September 1 and 3, 2026 she exercised 93,922 derivative-based shares and disposed of 83,328 shares of common stock, including 4,795 shares withheld to cover tax obligations. The open-market sales, made under a Rule 10b5-1 trading plan adopted June 2, 2026, occurred at weighted-average prices generally between the low $70s and mid $70s per share.

Positive

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Insider Adkins Katherine
Role Chief Legal Officer
Sold 83,328 shs ($6.09M)
Approx. gross sale proceeds $6.09M
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) F2, F12 4,404 $0.00 $0.00
Exercise Stock Option (Right to Buy) F2, F13 37,260 $0.00 $0.00
Exercise Class A Common Stock F2 4,404 $22.30 $98K
Exercise Class A Common Stock F2 37,260 $23.35 $870K
Sale Class A Common Stock F2, F6 41,664 $75.53 $3.15M
Exercise Restricted Stock Units F7, F8 1,622 $0.00 $0.00
Exercise Restricted Stock Units F7, F9 2,483 $0.00 $0.00
Exercise Restricted Stock Units F7, F10 5,086 $0.00 $0.00
Exercise Restricted Stock Units F7, F11 1,403 $0.00 $0.00
Exercise Stock Option (Right to Buy) F2, F12 41,664 $0.00 $0.00
Exercise Class A Common Stock 10,594 $0.00 $0.00
Tax Withholding Class A Common Stock F1 4,795 $69.94 $335K
Exercise Class A Common Stock F2 41,664 $22.30 $929K
Sale Class A Common Stock F2, F3 23,765 $70.13 $1.67M
Sale Class A Common Stock F2, F4 15,599 $71.00 $1.11M
Sale Class A Common Stock F2, F5 2,300 $71.87 $165K
Holdings After Transaction: Restricted Stock Units — 53,178 contracts (Direct); Stock Option (Right to Buy) — 51,554 contracts (Direct); Class A Common Stock — 152,439 shares (Direct)
Footnotes (13)
  1. 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.
  2. F2. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 2, 2026.
  3. F3. Represents the weighted average sale price of the shares sold from $69.59 to $70.57 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.
  4. F4. Represents the weighted average sale price of the shares sold from $70.59 to $71.58 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.
  5. F5. Represents the weighted average sale price of the shares sold from $71.59 to $72.40 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.
  6. F6. Represents the weighted average sale price of the shares sold from $75.00 to $75.88 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.
  7. F7. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class A Common Stock.
  8. F8. 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.
  9. F9. 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.
  10. F10. The RSUs vest in 16 equal quarterly installments beginning September 1, 2024, subject to the Reporting Person's continuous service with the Issuer as of each vesting date. This grant has no expiration date.
  11. F11. 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.
  12. F12. The stock options 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.
  13. F13. The stock options vest in 48 equal monthly installments beginning October 1, 2023, subject to the Reporting Person's continuous service with the Issuer as of each vesting date.
Shares sold 83,328 shares Total Class A common shares disposed of across reported transactions
Derivative shares exercised 93,922 shares Total shares from exercises or conversions of options and RSUs
Tax withholding shares 4,795 shares Shares withheld to satisfy tax obligations on RSU vesting September 1, 2026
Option exercise price $22.30 per share Exercise price for one stock option grant into Class A common stock
Option exercise price $23.35 per share Exercise price for another stock option grant into Class A common stock
Sale price range $69.59–$72.40 per share Weighted-average price ranges for certain September 1, 2026 sales
Sale price range $75.00–$75.88 per share Weighted-average price range for September 3, 2026 sale block
RSU vesting schedules Up to 48 monthly or 16 quarterly installments Various RSU grants vesting from October 1, 2022 and September 1, 2024/2025
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.
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.
weighted average sale price financial
"Represents the weighted average sale price of the shares sold from $69.59 to $70.57"
tax obligation financial
"withheld to satisfy the Reporting Person's tax obligation in connection with the settlement"
continuous service regulatory
"subject to the Reporting Person's continuous service with the Issuer as of each vesting date"

FAQ

How many AFRM shares did Katherine Adkins sell according to this Form 4?
The Form 4 shows that Katherine Adkins disposed of 83,328 shares of AFRM Class A common stock, including open-market sales and 4,795 shares withheld to satisfy tax obligations related to vesting restricted stock units.

Were the AFRM insider sales by Katherine Adkins under a Rule 10b5-1 plan?
Yes. A footnote states that the reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Katherine Adkins on June 2, 2026, and the filing’s Rule 10b5-1 checkbox is affirmed.

What prices were AFRM shares sold for in Katherine Adkins’ September 2026 trades?
Reported weighted-average sale prices included ranges of $69.59–$70.57, $70.59–$71.58, $71.59–$72.40, and $75.00–$75.88 per share for various blocks of AFRM Class A common stock sold in open-market transactions.

What option exercise prices applied to Katherine Adkins’ AFRM stock options?
The Form 4 shows stock options exercised for AFRM Class A common stock at exercise prices of $22.30 per share and $23.35 per share, with option grants originally vesting in 48 equal monthly installments beginning in 2022 and 2023.

How were taxes handled on Katherine Adkins’ AFRM restricted stock unit vesting?
The filing states that 4,795 shares of AFRM common stock were withheld to satisfy Katherine Adkins’ tax obligation arising from restricted stock units that vested on September 1, 2026, rather than requiring a separate cash payment.

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SEC Form 4
FORM 4UNITED 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).
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*
Adkins Katherine
(Last)(First)(Middle)
C/O AFFIRM HOLDINGS, INC.
221 MAIN ST., FLOOR 6
(Street)
SAN FRANCISCO CALIFORNIA 94105
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Affirm Holdings, Inc. [ AFRM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Legal Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock09/01/2026M10,594A$0157,234D
Class A Common Stock09/01/2026F4,795(1)D$69.94152,439D
Class A Common Stock09/01/2026M41,664(2)A$22.3194,103D
Class A Common Stock09/01/2026S23,765(2)D$70.13(3)170,338D
Class A Common Stock09/01/2026S15,599(2)D$71(4)154,739D
Class A Common Stock09/01/2026S2,300(2)D$71.87(5)152,439D
Class A Common Stock09/03/2026M4,404(2)A$22.3156,843D
Class A Common Stock09/03/2026M37,260(2)A$23.35194,103D
Class A Common Stock09/03/2026S41,664(2)D$75.53(6)152,439D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(7)09/01/2026M1,622 (8) (8)Class A Common Stock1,622$012,976D
Restricted Stock Units(7)09/01/2026M2,483 (9) (9)Class A Common Stock2,483$019,859D
Restricted Stock Units(7)09/01/2026M5,086 (10) (10)Class A Common Stock5,086$020,343D
Restricted Stock Units(7)09/01/2026M1,403 (11) (11)Class A Common Stock1,403$00D
Stock Option (Right to Buy)$22.309/01/2026M41,664(2) (12)09/16/2032Class A Common Stock41,664$012,084D
Stock Option (Right to Buy)$22.309/03/2026M4,404(2) (12)09/16/2032Class A Common Stock4,404$07,680D
Stock Option (Right to Buy)$23.3509/03/2026M37,260(2) (13)09/13/2033Class A Common Stock37,260$043,874D
Explanation of Responses:
1. 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.
2. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 2, 2026.
3. Represents the weighted average sale price of the shares sold from $69.59 to $70.57 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.
4. Represents the weighted average sale price of the shares sold from $70.59 to $71.58 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.
5. Represents the weighted average sale price of the shares sold from $71.59 to $72.40 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.
6. Represents the weighted average sale price of the shares sold from $75.00 to $75.88 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.
7. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class A Common Stock.
8. 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.
9. 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.
10. The RSUs vest in 16 equal quarterly installments beginning September 1, 2024, subject to the Reporting Person's continuous service with the Issuer as of each vesting date. This grant has no expiration date.
11. 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.
12. The stock options 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.
13. The stock options vest in 48 equal monthly installments beginning October 1, 2023, subject to the Reporting Person's continuous service with the Issuer as of each vesting date.
Remarks:
/s/ Josh Samples, Attorney-in-Fact09/03/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR