Michael Linford - Dec 27, 2023 Form 4 Insider Report for Affirm Holdings, Inc. (AFRM)

Role: Chief Financial Officer
Signature: /s/ David Ritenour, Attorney-in-Fact
Stock symbol: AFRM
Transactions as of: Dec 27, 2023
Transactions value $: -$3,029,650
Form type: 4
Date filed: 12/29/2023, 06:00 PM
Previous filing: Dec 19, 2023
Next filing: Jan 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	Price $	Shares After	Date	Ownership	Footnotes
transaction	AFRM	Class A Common Stock	+Options Exercise	$350,350	+65,000	+65.61%	$5.39	164,063	Dec 27, 2023	Direct
transaction	AFRM	Class A Common Stock	-Sell	-$3,380,000	-65,000	-39.62%	$52.00	99,063	Dec 27, 2023	Direct	F1

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	Stock Option (Right to Buy)	-Options Exercise	$0	-65,000	-5.44%	$0.00	1,128,870	Dec 27, 2023	Class A Common Stock	65,000	$5.39	Direct	F2

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 15, 2023.
F2	Stock options vest with respect to 1/4 of the shares of the Issuer's Class A common stock, par value $0.00001 per share ("Class A Common Stock"), underlying the stock option on the one-year anniversary of August 27, 2018, the vesting commencement date, and the remaining 3/4 of the shares underlying the option vest in equal monthly installments over the subsequent three years, in each case subject to continued service with the Issuer. 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.

Content

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 15, 2023.

Stock options vest with respect to 1/4 of the shares of the Issuer's Class A common stock, par value $0.00001 per share ("Class A Common Stock"), underlying the stock option on the one-year anniversary of August 27, 2018, the vesting commencement date, and the remaining 3/4 of the shares underlying the option vest in equal monthly installments over the subsequent three years, in each case subject to continued service with the Issuer. 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.