Linford Michael 4

What Happened

• Michael Linford, COO of Affirm Holdings (AFRM), exercised stock options on 2026-01-30 to acquire 20,000 shares at $49.00 per share, paying $980,000 in total. The filing also records the conversion/disposition of 20,000 derivative instruments in connection with the exercise; this was a non-market exercise-and-hold transaction (no open‑market sale).

Key Details

• Transaction date: 2026-01-30
• Acquired: 20,000 shares at $49.00 each (total cash paid: $980,000)
• Disposed (derivative): 20,000 units at $0.00 (represents conversion of the options)
• Shares were acquired via a non-market exercise and held (not sold immediately) — see footnote.
• Vesting note: the options/shares remain subject to the issuer’s vesting schedule (initial 5% at six months from Jan 1, 2021, then quarterly vesting over four years with annual aggregates of 15%, 20%, 30%, 30%), and the reporting person may exercise early provided the shares remain subject to vesting.
• Filing timeliness: no late filing indicator in the provided record.

Context

• This was an options exercise (transaction code M), not an open‑market purchase or sale. It is a conversion of derivative rights into common stock and the shares were held rather than sold immediately. Such exercises can reflect routine option exercises or tax/compensation planning; they are not, by themselves, proof of a view on the company’s near‑term stock direction.