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[S-8] Affirm Holdings, Inc. Employee Benefit Plan Registration

Filing Impact
(No impact)
Filing Sentiment
(Neutral)
Form Type
S-8
Rhea-AI Filing Summary

Affirm Holdings, Inc. filed a Form S-8 to register an additional 16,255,640 shares of Class A common stock under its Amended and Restated 2012 Stock Plan and 3,251,128 additional shares under its 2020 Employee Stock Purchase Plan. The filing incorporates prior Form S-8 registrations and omits Part I information consistent with Form S-8 instructions. The registration was executed in San Francisco, California, on August 28, 2025.

Affirm Holdings, Inc. ha presentato un Modulo S-8 per registrare ulteriori 16,255,640 azioni di capitale sociale di Classe A ai sensi del suo Amended and Restated 2012 Stock Plan e 3,251,128 azioni aggiuntive nell'ambito del 2020 Employee Stock Purchase Plan. Il deposito incorpora registrazioni S-8 precedenti e omette le informazioni della Parte I in conformit脿 alle istruzioni del Modulo S-8. La registrazione 猫 stata firmata a San Francisco, California, il 28 agosto 2025.

Affirm Holdings, Inc. present贸 un Formulario S-8 para registrar 16,255,640 acciones adicionales de acciones ordinarias Clase A bajo su Amended and Restated 2012 Stock Plan y 3,251,128 acciones adicionales bajo su 2020 Employee Stock Purchase Plan. La presentaci贸n incorpora registros S-8 anteriores y omite la informaci贸n de la Parte I de conformidad con las instrucciones del Formulario S-8. La registraci贸n se realiz贸 en San Francisco, California, el 28 de agosto de 2025.

Affirm Holdings, Inc.電� 靾橃爼路鞛瀾靹彪悳 2012 欤检嫕瓿勴殟(Amended and Restated 2012 Stock Plan)鞐� 霐半澕 於旉皜搿� 16,255,640欤检潣 韥措灅鞀� A 氤错喌欤检檧 2020 歆侅洂 欤检嫕 毵れ垬 瓿勴殟(2020 Employee Stock Purchase Plan)鞐� 霐半澕 於旉皜搿� 3,251,128欤茧ゼ 霌彪頃橁赴 鞙勴暣 Form S-8鞚� 鞝滌稖頄堨姷雼堧嫟. 鞝滌稖靹滌棎電� 鞚挫爠 Form S-8 霌彪鞚� 韽暔霅橂┌ Form S-8 歆旃棎 霐半澕 Part I 鞝曤炒電� 靸濍灥霅橃棃鞀惦媹雼�. 氤� 霌彪鞚 2025雲� 8鞗� 28鞚� 旌橂Μ韽媹鞎勳< 靸岉攧霝鞁滌姢旖旍棎靹� 靹滊獏霅橃棃鞀惦媹雼�.

Affirm Holdings, Inc. a d茅pos茅 un formulaire S-8 afin d'enregistrer 16,255,640 actions suppl茅mentaires de actions ordinaires de cat茅gorie A dans le cadre de son Amended and Restated 2012 Stock Plan et 3,251,128 actions suppl茅mentaires dans le cadre de son 2020 Employee Stock Purchase Plan. le d茅p么t int猫gre les enregistrements S-8 ant茅rieurs et omet les informations de la Partie I conform茅ment aux instructions du formulaire S-8. L'enregistrement a 茅t茅 ex茅cut茅 脿 San Francisco, Californie, le 28 ao没t 2025.

Affirm Holdings, Inc. hat ein Formular S-8 eingereicht, um zus盲tzliche 16,255,640 Aktien der Stammaktien Klasse A im Rahmen seines Amended and Restated 2012 Stock Plan sowie weitere 3,251,128 Aktien im Rahmen des 2020 Employee Stock Purchase Plan zu registrieren. Die Einreichung umfasst fr眉here S-8-Registrierungen und l盲sst gem盲脽 den Anweisungen zum Formular S-8 Informationen in Teil I aus. Die Registrierung wurde am 28. August 2025 in San Francisco, Kalifornien, ausgef眉hrt.

Positive
  • Continues support for employee compensation: Additional shares reserved under the 2012 Stock Plan and ESPP enable ongoing equity incentives and broad employee participation.
  • Routine, rule-compliant filing: Incorporates prior S-8 registrations and follows plan provisions for automatic annual increases, indicating established governance procedures.
Negative
  • Potential dilution: Up to 19,506,768 additional shares may be issued under the Plans if fully utilized, which could dilute existing shareholders if issued.
  • No details on grant timing or recipients: The filing does not disclose when awards will be granted or who will receive them, limiting assessment of near-term dilution impact.

Insights

TL;DR: The company increased the share reserve to support equity-based compensation and employee participation in the ESPP, a routine dilution management action.

The registration adds 16.26 million shares to the long-standing 2012 Stock Plan and 3.25 million to the ESPP, reflecting automatic annual increases under plan terms. This is standard practice to ensure continued issuance of awards and ESPP participation without requiring immediate shareholder re-approval. The impact on outstanding share count depends on future grant and purchase activity; the filing itself does not indicate actual grants or timing.

TL;DR: Administrative filing to replenish plan reserves; procedural and non-disclosive regarding new material transactions or governance changes.

The S-8 incorporates prior registration statements and follows plan provisions for automatic increases, suggesting no ad-hoc board action is disclosed here. There is no information in this filing about specific award recipients, grant sizes, or changes to plan terms. For investors, this is a routine registration that enables future equity awards but contains no immediate governance or control shifts.

Affirm Holdings, Inc. ha presentato un Modulo S-8 per registrare ulteriori 16,255,640 azioni di capitale sociale di Classe A ai sensi del suo Amended and Restated 2012 Stock Plan e 3,251,128 azioni aggiuntive nell'ambito del 2020 Employee Stock Purchase Plan. Il deposito incorpora registrazioni S-8 precedenti e omette le informazioni della Parte I in conformit脿 alle istruzioni del Modulo S-8. La registrazione 猫 stata firmata a San Francisco, California, il 28 agosto 2025.

Affirm Holdings, Inc. present贸 un Formulario S-8 para registrar 16,255,640 acciones adicionales de acciones ordinarias Clase A bajo su Amended and Restated 2012 Stock Plan y 3,251,128 acciones adicionales bajo su 2020 Employee Stock Purchase Plan. La presentaci贸n incorpora registros S-8 anteriores y omite la informaci贸n de la Parte I de conformidad con las instrucciones del Formulario S-8. La registraci贸n se realiz贸 en San Francisco, California, el 28 de agosto de 2025.

Affirm Holdings, Inc.電� 靾橃爼路鞛瀾靹彪悳 2012 欤检嫕瓿勴殟(Amended and Restated 2012 Stock Plan)鞐� 霐半澕 於旉皜搿� 16,255,640欤检潣 韥措灅鞀� A 氤错喌欤检檧 2020 歆侅洂 欤检嫕 毵れ垬 瓿勴殟(2020 Employee Stock Purchase Plan)鞐� 霐半澕 於旉皜搿� 3,251,128欤茧ゼ 霌彪頃橁赴 鞙勴暣 Form S-8鞚� 鞝滌稖頄堨姷雼堧嫟. 鞝滌稖靹滌棎電� 鞚挫爠 Form S-8 霌彪鞚� 韽暔霅橂┌ Form S-8 歆旃棎 霐半澕 Part I 鞝曤炒電� 靸濍灥霅橃棃鞀惦媹雼�. 氤� 霌彪鞚 2025雲� 8鞗� 28鞚� 旌橂Μ韽媹鞎勳< 靸岉攧霝鞁滌姢旖旍棎靹� 靹滊獏霅橃棃鞀惦媹雼�.

Affirm Holdings, Inc. a d茅pos茅 un formulaire S-8 afin d'enregistrer 16,255,640 actions suppl茅mentaires de actions ordinaires de cat茅gorie A dans le cadre de son Amended and Restated 2012 Stock Plan et 3,251,128 actions suppl茅mentaires dans le cadre de son 2020 Employee Stock Purchase Plan. le d茅p么t int猫gre les enregistrements S-8 ant茅rieurs et omet les informations de la Partie I conform茅ment aux instructions du formulaire S-8. L'enregistrement a 茅t茅 ex茅cut茅 脿 San Francisco, Californie, le 28 ao没t 2025.

Affirm Holdings, Inc. hat ein Formular S-8 eingereicht, um zus盲tzliche 16,255,640 Aktien der Stammaktien Klasse A im Rahmen seines Amended and Restated 2012 Stock Plan sowie weitere 3,251,128 Aktien im Rahmen des 2020 Employee Stock Purchase Plan zu registrieren. Die Einreichung umfasst fr眉here S-8-Registrierungen und l盲sst gem盲脽 den Anweisungen zum Formular S-8 Informationen in Teil I aus. Die Registrierung wurde am 28. August 2025 in San Francisco, Kalifornien, ausgef眉hrt.



 As filed with the Securities and Exchange Commission on August 28, 2025
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
_________________
Affirm Holdings, Inc.
(Exact name of registrant as specified in its charter)
Nevada84-2224323
(State or other jurisdiction of
Incorporation or organization)
(I.R.S. Employer
Identification No.)
650 California Street
San Francisco, CA 94108
(415) 960-1518
(Address of principal executive offices) (Zip code)
_________________
Affirm Holdings, Inc. Amended and Restated 2012 Stock Plan
Affirm Holdings, Inc. 2020 Employee Stock Purchase Plan
(Full titles of the plans)
Max Levchin
Chief Executive Officer
650 California Street
San Francisco, CA 94108
(415) 960-1518
(Name and address of agent for service) (Telephone number, including area code, of agent for service)
_________________
Copies to:

Katherine Adkins
Chief Legal Officer
650 California Street
San Francisco, CA 94108
(415) 960-1518

Sean Feller
Gibson, Dunn & Crutcher LLP
2000 Avenue of the Stars, Suite 1200
Los Angeles, CA 90067-4700
(310) 552-8500
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
 



REGISTRATION OF ADDITIONAL SHARES
PURSUANT TO GENERAL INSTRUCTION E

Pursuant to General Instruction E of Form S-8, Affirm Holdings, Inc. (the “Registrant”) is filing this registration statement on Form S-8 (this “Registration Statement”) with the Securities and Exchange Commission (the “Commission”) to register 16,255,640 additional shares of Class A common stock, par value $0.00001 per share (“Common Stock”), under the Affirm Holdings, Inc. Amended and Restated 2012 Stock Plan (the “2012 Stock Plan”) and 3,251,128 additional shares of Common Stock under the Affirm Holdings, Inc. 2020 Employee Stock Purchase Plan (the “ESPP,” and together with the 2012 Stock Plan, the “Plans”) pursuant to the respective provisions of the Plans providing for an automatic annual increase in the number of shares of Common Stock reserved for issuance under the Plans. This Registration Statement hereby incorporates by reference the contents of the Registrant’s previous registration statements on Form S-8 filed with the Commission on January 13, 2021 (Registration No. 333-252068), February 2, 2021 (Registration No. 333-252644), September 17, 2021 (Registration No. 333-259614), August 29, 2022 (Registration No. 333-267141), August 25, 2023 (Registration No. 333-274219), and August 28, 2024 (Registration No. 333-281828). In accordance with the instructional note of Part I of Form S-8 as promulgated by the Commission, the information specified by Part I of Form S-8 has been omitted from this Registration Statement.

 PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 8.Exhibits
Exhibit
Number
Description
4.1(1)
Articles of Incorporation
4.2(2)
Bylaws
5.1*
Opinion of Brownstein Hyatt Farber Schreck, LLP
23.1*
Consent of Brownstein Hyatt Farber Schreck, LLP (included in Exhibit 5.1)
23.2*
Consent of Deloitte & Touche LLP, independent registered public accountant
24.1*Power of Attorney (included on the signature page of this Registration Statement)
99.1(3)
Amended and Restated 2012 Stock Plan
99.2(4)
2020 Employee Stock Purchase Plan
107.1*
Filing Fee Table
(1)Incorporated by reference to Exhibit 3.1 filed with the Registrant’s Current Report on Form 8-K, filed with the Commission on June 26, 2025.
(2)Incorporated by reference to Exhibit 3.2 filed with the Registrant’s Current Report on Form 8-K, filed with the Commission on June 26, 2025.
(3)Incorporated by reference to Exhibit 10.3 filed with the Registrant’s Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2022, filed with the Commission on February 8, 2023.
(4)Incorporated by reference to Exhibit 10.3 filed with the Registrant’s Registration Statement on Form S-1/A, filed with the Commission on November 20, 2020.

*Filed herewith





SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”), the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Francisco, State of California, on this 28th day of August, 2025.
AFFIRM HOLDINGS, INC.
By:/s/ Max Levchin
Max Levchin
Chief Executive Officer




POWER OF ATTORNEY
The undersigned directors and officers of the Registrant hereby constitute and appoint Max Levchin, Rob O’Hare and Katherine Adkins, and each of them, any of whom may act without joinder of the other, the individual’s true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for the person and in his or her name, place and stead, in any and all capacities, to sign this Registration Statement and any or all amendments, including post-effective amendments to this Registration Statement, including any registration statement for the same offering that is to be effective upon filing pursuant to Rule 462 under the Securities Act, and all other documents in connection therewith to be filed with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact as agents or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated on August 28, 2025.

SignatureCapacity
/s/ Max Levchin
Max LevchinChairman of the Board of Directors and Chief Executive Officer
(principal executive officer)
/s/ Rob O’Hare
Rob O’Hare
Chief Financial Officer (principal financial officer)
/s/ Siphelele Jiyane
Siphelele JiyaneChief Accounting Officer (principal accounting officer)
/s/ Richard Galanti
Richard Galanti
Director
/s/ Brian D. Hughes
Brian D. HughesDirector
/s/ Jeremy Liew
Jeremy LiewDirector
/s/ Libor Michalek
Libor MichalekPresident and Director
/s/ Christa S. Quarles
Christa S. QuarlesDirector
/s/ Jacqueline D. Reses
Jacqueline D. ResesDirector
/s/ Manolo Sanchez
Manolo SanchezDirector
/s/ Noel Watson
Noel WatsonDirector

FAQ

What does Affirm's (AFRM) Form S-8 register?

The filing registers 16,255,640 additional shares for the 2012 Stock Plan and 3,251,128 additional shares for the 2020 ESPP.

Does this Form S-8 mean Affirm is issuing shares today?

No. The S-8 registers shares for future issuance under employee plans; the filing does not announce immediate grants or ESPP purchases.

How might this S-8 affect Affirm shareholders?

If these reserved shares are later issued, there could be dilution to existing shareholders; the filing itself does not quantify timing or amounts issued.

Why does the filing omit Part I information?

Per Form S-8 instructions, certain Part I information is commonly omitted when incorporated by reference to prior filings.

When was this registration statement signed?

The document was signed in San Francisco, California, on August 28, 2025.
Affirm Holdings, Inc.

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