Company: AFRM
Filing Date: 2025-10-24
Form Type: DEF 14A
Source: 0001628280-25-046264
Chunk: 5

Company: Affirm Holdings, Inc.
Filing Date: 2025-10-24
Form: DEF 14A
Chunk 5
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 The Board has determined that Ms. Reses is not an independent director under the listing standards of Nasdaq due to her relationship with Lead Bank as described below under “ Certain Relationships and Related-Party Transactions .” In addition, because Messrs. Levchin and Michalek are employed by Affirm, they do not qualify as independent directors. Nevertheless, independent directors continue to comprise two-thirds of the members of the Board.

In making its independence determinations, our Board considered the current and prior relationships that each non-employee director has with our Company and all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our common stock by each non-employee director, and the transactions involving them, if any, described in the section titled “ Certain Relationships and Related-Party Transactions .”

There are no family relationships among any of our directors or executive officers.

#### Board Leadership Structure
Mr. Levchin, our Founder and CEO, serves as Chairman of our Board and presides over meetings of our Board, holds such other powers, and carries out such other duties as are customarily carried out by the chair of a board. Our non-employee directors bring experience, oversight, and expertise from outside of our company, while Messrs. Levchin and Michalek each bring current company-specific experience, leadership, and insight as our Founder and Chief Executive Officer and President, respectively .

Our Board has adopted Corporate Governance Guidelines that provide that one of our independent directors may serve as our Lead Independent Director if the Chair is not independent. Upon the recommendation of our Nominating and Governance Committee, our Board has appointed Ms. Quarles to serve as our Lead Independent Director because of her experience with Affirm and her prior service as chair of our Audit Committee. As Lead Independent Director, Ms. Quarles presides over periodic meetings of our independent directors, serves as a liaison between our Chair and our independent

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directors, and performs such additional duties as our Board may otherwise determine and delegate. Our Board believes that our existing board leadership structure is appropriate and provides independent leadership and engagement from the Lead Independent Director, while providing the benefit of having our CEO, the individual with primary responsibility for managing the company’s day-to-day operations, chair regular Board meetings as key business and strategic issues are discussed .

#### Board and Stockholder Meetings and Committees
Our Board has established three standing committees: an Audit Committee, a Compensation Committee, and a Nominating and Governance Committee.