Company: AFRM
Filing Date: 2025-10-24
Form Type: DEF 14A
Source: 0001628280-25-046264
Chunk: 21

Company: Affirm Holdings, Inc.
Filing Date: 2025-10-24
Form: DEF 14A
Chunk 21
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 transactions as of June 30, 2025

* Refer to Appendix A for additional discussion of total revenue less transaction costs and adjusted operating income, which are non-GAAP financial measures, as well as reconciliations to the most directly comparable GAAP measures.

** GMV is a key operating metric that we define as the total dollar amount of all transactions on the Affirm platform during the applicable period, net of refunds. GMV does not represent revenue earned by us. However, we believe that GMV is a useful operating metric to both us and investors in assessing the volume of transactions that take place on the Affirm platform, which is an indicator of the success of our merchants and the strength of the Affirm platform.

#### Fiscal 2025 Executive Compensation Highlights
The Compensation Committee took the following key actions with respect to the compensation of our named executive officers for and during fiscal 2025:

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#### Base Salaries
. In connection with the Compensation Committee's annual review of our executive compensation

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program in June 2024, the Committee increased the annual base salaries of each of our named executive officers effective as of July 1, 2024. For our named executive officers other than our CEO, the increases ranged from 5% to 6% of annual base salary and were intended to more competitively position each executive given the highly competitive talent market in which we operate. Our CEO's annual base salary was increased to align with minimum wage requirements under applicable San Francisco laws in effect at that time.

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#### Annual Cash Incentive Plan
. The Compensation Committee approved annual cash incentive plan payments for our named executive officers (other than our CEO) based on achievement of short-term financial and operational performance targets set by the Compensation Committee. Our named executive officers achieved fiscal 2025 payout percentages of 140.7% out of a possible maximum of 150% of target cash incentive plan opportunities.

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#### Long-Term Incentive Compensation
. The Compensation Committee approved grants of time-vesting options to purchase shares of our Class A common stock and time-vesting grants of restricted stock units (“RSUs”) to our named executive officers (other than our CEO), that, upon vesting, will settle in shares of our Class A common stock. Equity awards granted in fiscal 2025 to our named executive officers (other than our CEO) included a mix of 50% options and 50% RSUS. These awards serve to align