Affirm (AFRM) President Linford Michael Receives RSU Shares

What Happened

Linford Michael, President of Affirm Holdings (AFRM), had 11,719 restricted stock units (RSUs convert/settle) vest and convert into 11,719 shares on September 1, 2026. Of those shares, 4,662 were withheld to satisfy tax withholding obligations at an implied value of $69.94 per share, totaling about $326,060. The conversion/settlement entries are reported as derivative exercises (code M) and the withholding is reported under tax withholding (code F).

Key Details

• Transaction date: September 1, 2026 (Form 4 filed Sept 3, 2026).
• Primary entries: 11,719 shares acquired via conversion of RSUs at $0.00 (derivative settlement).
• Tax withholding: 4,662 shares disposed to cover taxes at $69.94/share = $326,060 (code F).
• Additional derivative "disposed" entries (2,338; 5,674; 3,707) correspond to the RSU conversion/settlement reporting and together equal the 11,719-share settlement.
• Footnotes: F1 confirms shares withheld to satisfy tax obligation on RSUs vesting Sept 1, 2026; F2–F5 detail that each RSU converts to one Class A share and list the various vesting schedules for the grants.
• Shares owned after the transaction are not specified in the provided filing excerpt.
• Filing: Form 4 was filed Sept 3, 2026 (no late-filing flag shown in the supplied data).

Context

• This was a routine RSU vesting/settlement event, not an open-market purchase or voluntary sale. Tax withholding of vested shares is a common cashless settlement method and does not by itself indicate a change in the insider’s market view.
• For retail investors: purchases can be more informative than routine vesting. Here, the filing documents the conversion and tax withholding of vested RSUs rather than a deliberate buy or sell decision.