Company: AFRM
Filing Date: 2025-09-22
Form Type: 8-K
Source: 0001628280-25-042335
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Company: Affirm Holdings, Inc.
Filing Date: 2025-09-22
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) Annual Grants of Equity Awards to Certain Executive Officers

On September 18, 2025, the Compensation Committee (the “ Committee”) of the Board of Directors of Affirm Holdings, Inc. (the “ Company”) approved grants of annual equity awards under the Company’s Amended and Restated 2012 Stock Plan (the “ Plan”) consisting of both restricted stock units (“ RSUs”) and performance stock units (“ PSUs”) that vest into shares of the Company’s Class A Common Stock, par value $0.00001 per share (the “ Class A Common Stock”), to certain of its executive officers as set forth in the table below:

  Executive Officer                                       PSUs        RSUs  
 ────────────────────────────────────────────────────────────────────────────
  Rob O'Hare                                            33,366      33,366  
  Chief Financial Officer                                                   
  Katherine Adkins                                      19,463      19,463  
  Chief Legal Officer and Chief Compliance Officer                          
  Michael Linford                                       44,488      44,488  
  Chief Operating Officer                                                   
  Libor Michalek                                        44,488      44,488  
  President                                                                 

PSUs

The grants of PSUs are subject to time-based, service-based, and Company financial performance-based conditions.

The shares of Class A Common Stock subject to the PSUs may be earned, if at all, based on Company financial performance during a three-year performance period (the “ Performance Period”) that commenced on July 1, 2025. The Committee selected annual growth rates of revenue less transaction costs (weighted at 50%) and adjusted operating income (weighted at 50%) as the Company financial performance measures for the PSUs. Performance targets for each of the three Company fiscal years occurring during the Performance Period were approved by the Committee at the time of grant, with each annual performance target expressed in terms of growth over the level of actual performance achieved during the preceding fiscal year. Actual Company performance against the applicable targets will be measured at the end of each of the three fiscal years during the Performance Period and averaged at the end of the Performance Period such that no shares of Class A Common Stock may be earned until the end of the Performance Period. If the average performance over the Performance Period represents at least a threshold level of performance, the number of shares of