Affirm (AFRM) COO Linford exercises 20,000 options and holds new shares

Rhea-AI Filing Summary

Affirm Holdings Chief Operating Officer Michael Linford exercised stock options for 20,000 shares of Class A common stock on January 30, 2026 through a non-market "exercise and hold" transaction at $49 per share. After this transaction, he directly owns 78,562 Class A shares and 283,751 stock options. The options, originally granted with a vesting schedule starting January 1, 2021, continue to vest over several years, and any shares acquired on exercise remain subject to that vesting schedule.

Insider Trade Summary

20,000 shares exercised/converted

Mixed 2 txns

Insider Linford Michael

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	20,000	$0.00	--
Exercise	Class A Common Stock	20,000	$49.00	$980K

Holdings After Transaction: Stock Option (Right to Buy) — 283,751 shares (Direct); Class A Common Stock — 78,562 shares (Direct)

Footnotes (1)

1. The reporting person executed a non-market exercise and hold transaction with respect to these stock options and the underlying shares. Stock options vest 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 options at any time, provided that the shares acquired upon exercise remain subject to the applicable vesting schedule.

Form 4 Insider Transactions: What Each Field Means →

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
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).

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)
01/30/2026

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	01/30/2026		M		20,000	A	$49	78,562	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	01/30/2026		M			20,000(1)	(2)	01/11/2031	Class A Common Stock	20,000	$0	283,751	D

Explanation of Responses:

1. The reporting person executed a non-market exercise and hold transaction with respect to these stock options and the underlying shares.

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

Remarks:

	/s/ Josh Samples, Attorney-in-Fact	01/30/2026
	** 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 transaction did Affirm (AFRM) report for Michael Linford?

Affirm reported that Chief Operating Officer Michael Linford exercised 20,000 stock options into Class A common stock on January 30, 2026. This was a non-market exercise and hold, meaning he acquired the shares but did not sell them in the open market.

At what price did Michael Linford exercise his Affirm (AFRM) stock options?

Michael Linford exercised his Affirm stock options at an exercise price of $49 per share for 20,000 shares. The transaction was coded as an option exercise (code M) and structured as a non-market exercise and hold of both the options and resulting common shares.

How many Affirm (AFRM) shares does Michael Linford own after this Form 4?

After the reported transaction, Michael Linford directly owns 78,562 shares of Affirm Class A common stock. He also holds 283,751 stock options, which continue to be subject to the original vesting schedule tied to his ongoing employment with the company.

What does a non-market exercise and hold mean in this Affirm (AFRM) filing?

A non-market exercise and hold means Linford exercised stock options to obtain 20,000 Affirm shares without immediately selling them in the market. The acquired shares remain subject to the original vesting schedule, so his ownership rights fully vest only over the defined time period.

How do Michael Linford’s Affirm (AFRM) stock options vest?

Linford’s stock options vest 5% six months after January 1, 2021, with the remaining options vesting quarterly over four years. Those quarterly vestings occur in annual aggregate amounts of 15%, 20%, 30%, and 30%, conditioned on his continued employment at each vesting date.