Company: AFRM
Filing Date: 2025-10-24
Form Type: DEF 14A
Source: 0001628280-25-046264
Chunk: 30

Company: Affirm Holdings, Inc.
Filing Date: 2025-10-24
Form: DEF 14A
Chunk 30
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 Chief Financial Officer in November 2024.

The base salaries paid to our named executive officers during fiscal 2025 are set forth in the “ Fiscal 2025 Summary Compensation Table ” below.

Annual Cash Incentive Plan Opportunities: Cash Incentive Plan

We use a cash incentive plan to provide our named executive officers (other than our CEO) with the opportunity to earn

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cash incentive plan awards based upon the achievement of Company short-term financial and operational performance goals. We use the cash incentive plan to motivate our named executive officers (other than our CEO) to achieve our financial and operational performance goals. Mr. Levchin does not participate in the cash incentive plan.

Pursuant to the cash incentive plan, the Compensation Committee establishes a target cash incentive plan opportunity for each participant in the plan with actual awards payable based on actual performance against established financial and operational goals during the applicable performance period. For fiscal 2025, the performance period was July 1, 2024 through June 30, 2025.

To be eligible to earn cash incentive plan awards, a participant must remain continually employed by us through the end of the applicable performance period. Earned cash incentive plan awards, if any, are paid in cash within two and one-half months following the end of the applicable performance period and after the Compensation Committee has determined and certified the level of performance achieved and the amount of the cash incentive plan awards earned.

Fiscal 2025 Target Cash Incentive Plan Opportunities

Pursuant to the cash incentive plan, the Compensation Committee established a target cash incentive plan opportunity for each named executive officer (other than our CEO) based upon a specific percentage of each named executive officer’s actual base salary paid during the applicable performance period. In setting these percentages, the Compensation Committee took into consideration a competitive market analysis prepared by Semler Brossy and the recommendations of our CEO, as well as the other factors described in “ Compensation-Setting Process—Setting Base Salaries, Long-Term Incentive Compensation Opportunities and Annual Incentive Compensation Opportunities ” above. Taking those factors into consideration, the Compensation Committee decided to increase for fiscal 2025 the target cash incentive plan opportunity percentages for Messrs. Linford and Michalek to 80% from 75% in fiscal 2024 and retain for fiscal 2025 the same target cash incentive plan opportunity percentage for Ms. Adkins as was in effect at the end of fiscal 2024.

The target