Affirm Holdings DEF 14A: Executive Compensation Details

Ticker: AFRM · Form: DEF 14A · Filed: Oct 25, 2024 · CIK: 1820953

Affirm Holdings, Inc. DEF 14A Filing Summary
FieldDetail
CompanyAffirm Holdings, Inc. (AFRM)
Form TypeDEF 14A
Filed DateOct 25, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$26.6B, $2.3B, $994M, $616, $381M
Sentimentneutral

Sentiment: neutral

Topics: executive-compensation, stock-awards, annual-filing

Related Tickers: AFRM

TL;DR

Affirm Holdings dropped its DEF 14A, showing exec comp details for FY23. Stock awards are key.

AI Summary

Affirm Holdings, Inc. filed a DEF 14A on October 25, 2024, detailing executive compensation for the fiscal year ending June 30, 2023. The filing includes information on stock and option awards granted to both PEO (Principal Executive Officer) and Non-PEO NEOs (Named Executive Officers), as well as the fair value of outstanding and unvested awards at the fiscal year-end.

Why It Matters

This filing provides transparency into how Affirm Holdings compensates its top executives, which can influence investor perception and corporate governance.

Risk Assessment

Risk Level: low — This is a routine DEF 14A filing detailing executive compensation and does not present new financial risks.

Key Numbers

  • 6141 — SIC Code (Standard Industrial Classification for Personal Credit Institutions)

Key Players & Entities

  • Affirm Holdings, Inc. (company) — Filer of the DEF 14A
  • 0001820953-24-000049 (filing_id) — Accession Number for the filing
  • 20241025 (date) — Filing Date
  • 2023-06-30 (date) — Fiscal Year End

FAQ

What is the primary purpose of this DEF 14A filing?

The primary purpose of this DEF 14A filing is to provide detailed information regarding the compensation of Affirm Holdings, Inc.'s named executive officers for the fiscal year ending June 30, 2023.

When was this DEF 14A filing submitted to the SEC?

This DEF 14A filing was submitted to the SEC on October 25, 2024.

What fiscal year does the compensation information in this filing pertain to?

The compensation information detailed in this filing pertains to the fiscal year ending on June 30, 2023.

What type of compensation elements are specifically mentioned in the filing's data points?

The filing's data points specifically mention 'GrantDateFairValueOfOptionAwardsAndStockAwardsGrantedInFiscalYear' and 'FairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInFiscalYear'.

Who are the categories of executives for whom compensation data is provided?

Compensation data is provided for 'PeoMember' (Principal Executive Officer) and 'NonPeoNeoMember' (Non-Principal Executive Officer Named Executive Officers).

Filing Stats: 4,467 words · 18 min read · ~15 pages · Grade level 13.2 · Accepted 2024-10-25 16:09:02

Key Financial Figures

  • $26.6B — ormance Financial Highlights GMV* $26.6B 32%** Active Consumers 18.7M 14%**
  • $2.3B — nsumers 18.7M 14%** Total Revenue $2.3B 46%** Revenue Less Transaction Costs
  • $994M — ** Revenue Less Transaction Costs* $994M 47%** Operating Income (Loss) ($616
  • $616 — 994M 47%** Operating Income (Loss) ($616)M Adjusted Operating Income (Loss)*
  • $381M — M Adjusted Operating Income (Loss)* $381M * Please refer to Appendix A for a di
  • $2.9 billion — ded June 30, 2024, Lead Bank originated $2.9 billion of loans through Affirm's platform, and
  • $200,000 — Lead Bank that exceeded the greater of $200,000 or 5% of Lead Bank's consolidated gross

Filing Documents

EXECUTIVE COMPENSATION TABLES

EXECUTIVE COMPENSATION TABLES 34 PROPOSAL NO. 3: APPROVAL, ON A NON-BINDING ADVISORY BASIS, OF THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS 45 EQUITY COMPENSATION PLAN INFORMATION 46

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 47 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 49 OTHER MATTERS 49 QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING 51 PROPOSALS OF STOCKHOLDERS FOR 202 5 ANNUAL MEETING 55 APPENDIX A 56 Headquarters | 650 California Street, San Francisco, California 94108 | (415) 960-1518 Investor Relations Website | investors.affirm.com PROXY STATEMENT FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS To Be Held at 9:00 a.m., Pacific Time, on Monday, December 9, 2024 This proxy statement is furnished in connection with the solicitation of your proxy by our Board of Directors ("Board") to vote at the 2024 Annual Meeting of Stockholders (including any adjournments, continuations, or postponements thereof, the "Annual Meeting"). This proxy statement contains information about the matters to be voted upon at the Annual Meeting and certain other information required by Securities and Exchange Commission ("SEC") rules. In accordance with SEC rules, we are making our proxy materials available at www.proxydocs.com/AFRM with an option to request a printed set be mailed to you. We expect to begin mailing a notice of internet availability of proxy materials (the "Notice") on October 25, 2024 to all stockholders of record entitled to vote at the Annual Meeting. The Notice contains instructions for viewing the proxy materials, voting online and requesting a printed set of proxy materials. You are cordially invited to attend the Annual Meeting on Monday, December 9, 2024, at 9:00 a.m., Pacific Time, which we are holding exclusively online via live webcast at www.proxydocs.com/AFRM. Whether or not you expect to attend the Annual Meeting, please vote online, as instructed in these materials, as promptly as possible in order to ensure your representation at the Annual Meeting. Even if you have voted by proxy, you may still vote online during the Annual Meeting by following the instructions under "Voting and Annu

Executive Compensation and Financial Highlights

Executive Compensation and Financial Highlights Compensation Philosophy and Design We strive to compensate our named executive officers in a manner that is competitive, rewards achievement of our business objectives, and aligns the interests of our named executive officers with those of our stockholders. Generally, we structure the annual compensation of our named executive officers using three principal elements: base salary, annual cash incentive opportunities, and long-term incentive compensation opportunities in the form of equity awards. We have designed our executive compensation program to achieve the following primary objectives: Provide market competitive compensation and benefit levels to attract, motivate, reward and retain key members of our management team Establish a direct link between our financial and operational objectives and our compensation Align the interests and objectives of our named executive officers with our stockholders by linking long-term incentive compensation opportunities to stockholder value creation and cash incentives to annual performance Financial Highlights GMV* $26.6B 32%** Active Consumers 18.7M 14%** Total Revenue $2.3B 46%** Revenue Less Transaction Costs* $994M 47%** Operating Income (Loss) ($616)M Adjusted Operating Income (Loss)* $381M * Please refer to Appendix A for a discussion of GMV, which is a key operating metric. In addition, refer to Appendix A for a discussion of total revenue less transaction costs and adjusted operating loss, which are non-GAAP financial measures, as well as reconciliations to the most directly comparable GAAP measures. ** All comparisons are to the comparable figure for fiscal 2023 unless otherwise noted. 2 TABLE OF CONTENTS Board of Directors and Corporate Governance Our business is managed under the direction of our Board, which is currently composed of nine members. Six of our nine directors are independent within the meaning of the independen

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