Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 58

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 58
---
, expired or canceled(433,760)35.72 Non-vested at September 30, 202515,662,911 $42.86 As of September 30, 2025, unrecognized compensation expense related to unvested RSUs was approximately $633.7 million, which is expected to be recognized over a remaining weighted-average period of 1.6 years.Performance Stock UnitsIn September 2025, we granted PSUs to select executives and employees. Vesting is contingent upon completion of a continuous three-year service period and the achievement of company financial performance goals, including target growth rates for revenue less transaction costs and adjusted operating income. The number of shares that vest at the end of the performance period will range between 0% and 200% of the target shares based on actual performance against the applicable targets, which will be measured at the end of each fiscal year and averaged at the end of the three-year period. We record stock-based compensation expense for the number of PSUs that are probable of vesting based on the estimated achievement of the performance conditions. If the minimum conditions are not met, any recognized compensation cost will be reversed. The expense is recognized on a straight-line basis over the three-year period.The following table summarizes our PSU activity during the three months ended September 30, 2025:Number of SharesWeighted Average Grant Date Fair ValueNon-vested at June 30, 2025— $— Granted262,756 89.91 Non-vested at September 30, 2025262,756 $89.91 As of September 30, 2025, unrecognized compensation expense related to unvested PSUs was approximately $23.3 million, which is expected to be recognized over a remaining weighted-average period of 2.8 years.2020 Employee Stock Purchase PlanOn November 18, 2020, our Board of Directors adopted and approved the 2020 Employee Stock Purchase Plan (“ESPP”). The purpose of the ESPP is to secure the services of new employees, to retain the services of existing employees and to provide incentives for such individuals to exert maximum effort towards the success of the Company and that of its affiliates. A total of 19.2 million shares of Class A common stock are reserved and available for issuance under the ESPP and 2.1 million shares have been issued as of September 30, 2025. The ESPP provides for six-month offering periods beginning December 1