Adkins Katherine 4

What Happened

• Katherine Adkins, Chief Legal Officer of Affirm (AFRM), had restricted stock units (RSUs) vest and convert into 1,401 shares on May 1, 2026. The conversion is reported as an exercise/conversion of a derivative (code M) at $0.00. To satisfy tax withholding, 634 of those shares were withheld/disposed (code F) at $67.54 per share, totaling $42,820. The filing shows the RSU settlement and the tax-withholding share disposition.

Key Details

• Transaction date: May 1, 2026; Filing date: May 5, 2026 (Form 4 accession 0001628280-26-030650).
• Conversion/settlement: 1,401 RSUs converted to 1,401 shares (code M) at $0.00.
• Tax withholding: 634 shares withheld/disposed (code F) at $67.54 each, total $42,820.
• Shares owned after transaction: Not reported in the filing.
• Footnotes: F1–shares withheld to satisfy tax obligation on RSU settlement; F2–each RSU equals one share; F3–RSUs vest in 48 equal monthly installments beginning Oct 1, 2022; grant has no expiration.
• No indication in the filing of a 10b5-1 plan or late-filing flag.

Context

• This was not an open-market sale or purchase by the insider but a routine RSU vesting with shares withheld to pay taxes. Such withholding is common and generally administrative rather than a directional trading signal. For clarity: the RSU conversion (derivative exercise) generated shares, and a portion were retained by the company to cover the tax liability.