Libor Michalek - Jan 1, 2023 Form 4 Insider Report for Affirm Holdings, Inc. (AFRM)

Role: President, Director
Signature: /s/ David Ritenour, Attorney-in-Fact
Stock symbol: AFRM
Transactions as of: Jan 1, 2023
Transactions value $: -$31,582
Form type: 4
Date filed: 1/4/2023, 05:02 PM
Previous filing: Dec 5, 2022
Next filing: Feb 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AFRM	Class A Common Stock	Options Exercise	$0	+7.97K	+8.54%	$0.00	101K	Jan 1, 2023	Direct
transaction	AFRM	Class A Common Stock	Tax liability	-$31.6K	-3.27K	-3.22%	$9.67	98K	Jan 1, 2023	Direct	F1
holding	AFRM	Class A Common Stock						876K	Jan 1, 2023	Michalek 2007 Trust dated March 21, 2007	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AFRM	Restricted Stock Units	Options Exercise	$0	-5.63K	-6.67%	$0.00	78.9K	Jan 1, 2023	Class A Common Stock	5.63K		Direct	F3, F4
transaction	AFRM	Restricted Stock Units	Options Exercise	$0	-2.34K	-2.22%	$0.00	103K	Jan 1, 2023	Class A Common Stock	2.34K		Direct	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 January 1, 2023.
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 represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F4	Restricted stock unit grant vests over four and one-half years, commencing as of January 1, 2021, the vesting commencement date. The first 5% of the shares vest on the six-month anniversary of the vesting commencement date, and the remainder of the shares vest in quarterly installments over the remaining 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.
F5	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.