Business Context and Reporting Period
This Form 8-K Current Report was filed by Affirm Holdings, Inc. on January 13, 2026. The filing discloses a specific corporate governance event regarding executive compensation rather than a standard financial reporting period.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the terms of an equity award grant.
Material Changes
The material change reported is the grant of 333,667 Performance Stock Units (PSUs) to Max Levchin, the Company's Founder and Chief Executive Officer. This grant follows the expiration of his previous value creation award on January 11, 2026.
Guidance, Outlook, and Management Commentary
The PSU grant is subject to time-based, service-based, and financial performance conditions over a three-year Performance Period commencing July 1, 2025. Key terms include:
- Performance Measures: 50% weighted on annual growth rates of revenue less transaction costs and 50% weighted on adjusted operating income.
- Targets: Annual targets are expressed as growth over the preceding fiscal year's actual performance.
- Vesting Range: Earned shares range from 50% (threshold) to 200% (maximum) of the granted PSUs, with 100% set as the target.
- Settlement: Performance is averaged over the three-year period, and shares vest in full only at the end of the Performance Period, contingent on continued service.
Investor Verification Checklist
- Verify the specific annual performance targets for revenue less transaction costs and adjusted operating income approved in September 2025.
- Confirm the exact end date of the three-year Performance Period to determine the vesting timeline.
- Review the Company's 10-Q for the quarter ended September 30, 2025, for the full PSU grant agreement terms.
- Monitor future filings for the actual performance results against the threshold, target, and maximum levels.