Affirm (AFRM) president exercises RSUs as shares withheld to cover tax
Rhea-AI Filing Summary
Affirm Holdings President Libor Michalek reported routine equity compensation activity involving Class A Common Stock and restricted stock units (RSUs). On June 1, 2026, he exercised RSUs to acquire 11,363 shares of Class A Common Stock, at a stated price of $0.00 per share.
To cover related tax obligations on vested RSU shares, 5,783 shares were withheld at $72.91 per share, a non‑market, tax‑withholding disposition rather than an open‑market sale. Following these transactions, Michalek holds 222,604 Class A shares directly and 868,114 Class A shares indirectly through the Michalek 2007 Family Trust, and continues to hold multiple RSU awards that vest over time subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 5,580 shares
Net Buy
6 txns
Insider
Michalek Libor
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,335 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 5,320 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 3,708 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 11,363 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 5,783 | $72.91 | $422K |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 88,250 shares (Direct);
Class A Common Stock — 222,604 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 June 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. The 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
RSUs converted: 11,363 shares
Tax-withheld shares: 5,783 shares at $72.91
Direct common shares: 222,604 shares
+4 more
7 metrics
RSUs converted
11,363 shares
Class A Common Stock acquired via RSU exercise on June 1, 2026
Tax-withheld shares
5,783 shares at $72.91
Shares withheld to satisfy tax obligation on RSU vesting
Direct common shares
222,604 shares
Class A Common Stock held directly after transactions
Indirect trust shares
868,114 shares
Class A Common Stock held by Michalek 2007 Family Trust
RSU grant 1 remaining
33,366 units
Restricted Stock Units remaining after transaction for one grant
RSU grant 2 remaining
47,875 units
Restricted Stock Units remaining after transaction for another grant
RSU grant 3 remaining
7,009 units
Restricted Stock Units remaining after transaction for third grant
Key Terms
Restricted Stock Unit (RSU), tax obligation, withheld, indirect ownership, +1 more
5 terms
Restricted Stock Unit (RSU) financial
"Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class A Common Stock."
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.
tax obligation financial
"shares of the Issuer's Common Stock withheld to satisfy the Reporting Person's tax obligation in connection with the settlement"
withheld financial
"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."
vesting financial
"The RSUs vest in 48 equal monthly installments beginning October 1, 2022, subject to the Reporting Person's continuous service"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Affirm (AFRM) President Libor Michalek report in this Form 4?
Libor Michalek reported routine equity compensation activity. He exercised restricted stock units (RSUs) into 11,363 shares of Class A Common Stock and had 5,783 shares withheld to satisfy tax obligations tied to RSU vesting on June 1, 2026.
What RSU activity did Affirm (AFRM) disclose for Libor Michalek?
Multiple RSU awards partially vested and were converted. RSU transactions covered 3,708, 5,320, and 2,335 units, each converting on a one-for-one basis into Class A Common Stock as part of scheduled vesting tied to continued service with Affirm.
How do Libor Michalek’s RSUs at Affirm (AFRM) vest over time?
His RSUs vest in scheduled installments. One grant vests in 48 equal monthly installments beginning October 1, 2022, while others vest in equal quarterly installments starting September 1, 2025 and December 1, 2025, contingent on his continued employment.
What is the role of the Michalek 2007 Family Trust in Affirm (AFRM) holdings?
The Michalek 2007 Family Trust holds a large indirect stake. After these transactions, 868,114 shares of Affirm Class A Common Stock are held by the trust, where Michalek and his spouse serve as trustees, reflecting indirect beneficial ownership.