Affirm (AFRM) Insider Sale: COO Reports Disposition of Class A Stock

Rhea-AI Filing Summary

Affirm Holdings, Inc. (AFRM) Form 4: The company disclosed insider transactions by reporting person Michael Linford, Chief Operating Officer. The filing shows dispositions of Class A common stock on 09/05/2025 with two reported amounts of 77,722 and 47,232 shares. One line lists a Price of $0. The form was signed by an attorney-in-fact on 09/09/2025. No derivative transactions or additional explanatory remarks are included.

Positive

• None.

Negative

• Officer reported dispositions totaling 124,954 shares (77,722 and 47,232) on 09/05/2025
• One reported line shows a price of $0, with no explanatory remarks in the filing
• No context provided (no explanation whether sales were pursuant to a pre-arranged plan or other arrangement)

Insights

Securities Analyst

TL;DR: Insider sale by the COO totaling reported share dispositions; appears routine based on available data.

The filing reports Michael Linford, COO, as the reporting person, recording two dispositions of Class A common stock on 09/05/2025 totaling 124,954 shares. One disposition row shows a reported price of $0, and the transaction code is listed as G. No derivative holdings or additional explanatory remarks accompany the filing. Based solely on the form, this is a disclosure of insider selling activity without further context.

Corporate Governance Expert

TL;DR: Insider disposition disclosed; materiality cannot be judged from this form alone.

The Form 4 identifies the reporting person as an officer (COO) and records two dispositions of Class A common stock (77,722 and 47,232 shares) on 09/05/2025. The document contains no narrative explanation, no derivates, and no indication of whether transactions were pursuant to a plan. From a governance perspective, the filing satisfies Section 16 reporting but does not provide context to assess motives or material impact.

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).

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^*

Linford Michael

(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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		G		77,722	D	$0	47,232	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

Explanation of Responses:

Remarks:

	/s/ Josh Samples, Attorney-in-Fact	09/09/2025
	** 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 insider transactions are reported on the AFRM Form 4?

The filing reports two dispositions of Class A common stock by Michael Linford on 09/05/2025: 77,722 shares and 47,232 shares.

Who is the reporting person on the AFRM Form 4?

The reporting person is Michael Linford, identified as Chief Operating Officer of Affirm Holdings, Inc.

Does the Form 4 show any derivative transactions for AFRM?

No. Table II for derivative securities contains no reported transactions in this filing.

Is there an explanation for the transactions on the Form 4?

The filing includes no explanatory remarks or description of the transactions beyond the amounts, date, code, and one reported price of $0.

When was the Form 4 signed?

The form is signed by an attorney-in-fact, Josh Samples, with a signature date of 09/09/2025.