Michael Linford, Chief Operating Officer of Affirm Holdings, Inc., filed a Form 4 on September 1, 2026, disclosing the exercise of stock options and the sale of 79,219 shares of Class A Common Stock on August 28, 2026, pursuant to a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Option exercise: Linford acquired 79,219 shares of Class A Common Stock via stock option exercise (transaction code M) at an exercise price of $5.39 per share on August 28, 2026.
  • Shares sold: 79,219 shares of Class A Common Stock were disposed of (transaction code S) at a weighted average price of $90.01 per share, with individual sale prices ranging from $90.00 to $90.09 per share.
  • 10b5-1 plan: The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Linford on December 9, 2025.
  • Remaining direct ownership: Following the transactions, Linford directly held 120,713 shares of Class A Common Stock.
  • Remaining options: Linford retained 354,651 stock options (right to buy) with an exercise price of $5.39 and an expiration date of August 26, 2028.

Affirm Holdings COO Option Exercise and Share Sale Details

According to the filing, Michael Linford, Chief Operating Officer of Affirm Holdings, Inc. (NASDAQ:AFRM), executed two transactions on August 28, 2026. First, he exercised stock options to acquire 79,219 shares of Class A Common Stock at an exercise price of $5.39 per share, bringing his directly held shares to 199,932 at that point. He then sold the same 79,219 shares at a weighted average price of $90.01 per share, with prices ranging from $90.00 to $90.09, reducing his direct holdings to 120,713 shares.

The filing notes that the sales were carried out under a Rule 10b5-1 trading plan that Linford adopted on December 9, 2025. The filing states that full information on the number of shares sold at each individual price within the reported range will be provided upon request by the Commission staff, the issuer, or a security holder. The stock option exercised carries an expiration date of August 26, 2028, and the price of the derivative security at exercise was $0, according to the filing.

The filing describes the vesting schedule of the underlying stock options: one-quarter of the shares vested on the one-year anniversary of the vesting commencement date of August 27, 2018, with the remaining three-quarters vesting in equal monthly installments over the following three years, subject to continued service. The filing also notes that Linford may elect to exercise options at any time, though shares acquired upon exercise remain subject to the applicable vesting schedule. Following all reported transactions, Linford retains 354,651 stock options directly.

What Was Disclosed

The Form 4 discloses that Affirm Holdings COO Michael Linford exercised 79,219 stock options at $5.39 per share and sold the resulting shares at a weighted average of $90.01 per share on August 28, 2026, under a 10b5-1 plan adopted December 9, 2025.