Affirm (AFRM) COO Linford Michael Sells 79,219 Shares

What Happened

• Linford Michael, Chief Operating Officer of Affirm (AFRM), exercised options and immediately sold the resulting 79,219 shares on August 28, 2026. The filing shows an exercise (derivative conversion) acquiring 79,219 shares at an exercise price of $5.39 (cost ~$426,990) and an open-market sale of 79,219 shares at a weighted average price of $90.01 ($7,130,502 proceeds). A separate derivative disposition line at $0 reflects the option conversion associated with the exercise.

Key Details

• Transaction date: 2026-08-28; Form 4 filed: 2026-09-01 (timely).
• Exercise: 79,219 shares @ $5.39 = $426,990 cash paid.
• Sale: 79,219 shares @ weighted avg $90.01 = $7,130,502 proceeds (weighted sale price range $90.00–$90.09).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes: Sales were made under a Rule 10b5-1 trading plan adopted Dec 9, 2025 (F1). Price range and breakdown available on request (F2). Option vesting and exercise mechanics described in filing (F3).

Context

• This is effectively a same-day exercise-and-sell (often called a cashless exercise): the options were exercised and the shares were sold in the open market the same day. The presence of a 10b5-1 plan indicates the sales were pre-planned trading, which is commonly used to avoid questions about trading timing. The filing appears timely (filed within required business-day window).