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Libor Michalek

President at Affirm Holdings
Board
Since December 2022
Age
51 years
Education
Earned his B.S. in Computer Science from the University of Illinois at Urbana-Champaign.
Tenure
Joined AFRM in 2015 as Chief Technology Officer, later serving as President, Technology followed by President, Technology, Risk and Operations, and becoming President in December 2022.

Also at Affirm Holdings

KA
Katherine Adkins
Chief Legal Officer and Chief Compliance Officer
ML
Michael Linford
Chief Operating Officer (COO)

About

Libor Michalek is 51 years old as of October 2024. He earned his B.S. in Computer Science from the University of Illinois at Urbana-Champaign, laying the groundwork for his career in technology.

Prior to joining AFRM, he held key leadership roles in major technology companies, serving as an Engineering Director at YouTube and Google and as Chief Technology Officer at Slide. This period was marked by significant contributions in engineering and technological innovation.

He joined AFRM in 2015 as Chief Technology Officer and progressively advanced his responsibilities within the company. Over time, he held roles as President, Technology and President, Technology, Risk and Operations before being promoted to President in December 2022. His extensive experience in software, systems, and risk management has been instrumental in driving the company’s strategic growth.

Past Roles

OrganizationRoleDate RangeDetails
Affirm Holdings, Inc. President, Technology, Risk and Operations May 2021 - December 2022 Held prior to current presidency
Affirm Holdings, Inc. President, Technology 2018 - May 2021 Served prior to role as President
Affirm Holdings, Inc. Chief Technology Officer 2015 - 2018 Held an early leadership role
YouTube/Google Engineering Director N/A Position held before joining AFRM
Slide Chief Technology Officer N/A Role held prior to Slide's acquisition by Google in 2010

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Salary$475,000Annually (regular payroll)0% change from Fiscal 2023
Annual Cash Incentive Plan Payment (Change in Control)$356,250Payable upon a change in control eventTarget amount only; not applicable under a change in control scenario
Cash Severance (Qualifying Termination Within a Change in Control Period)$831,250Lump sum on qualifying terminationEqual to 100% of base salary plus target incentive plan
Value of Accelerated Stock Awards$3,181,294Accelerated vesting on change in controlBased on unvested RSUs at $30.21 per share
Value of Accelerated Option Awards$5,823,744Accelerated vesting on change in controlBased on unvested options with exercise price vs market price ($30.21)
Value of Benefits$32,880Monthly premiums over 12 monthsHealth benefits continuation
Total (Qualifying Termination)$9,869,168Aggregate payment on qualifying terminationSum of severance, accelerated awards, and benefits

Performance Compensation

Data from  FY 2024

Non-Equity Incentive Plan Performance Compensation for Fiscal 2024

Evaluation Period: July 1, 2023 through June 30, 2024

Performance Metrics & Actual Results:

MetricWeightingActual PerformancePercentage Achievement vs. TargetApplicable Performance Multiplier
Network Size50%102.1%102.1%110.5%
Total Revenue25%$2.3 billion115.0%150.0%
Adjusted Operating Income25%$380.9 million1405.5%150.0%

Thresholds, Targets & Maximums:

MetricThreshold ($)Target ($)Maximum ($)
Cash Incentive Award$178,125$356,250$534,375

Other Key Details:

  • Target Cash Incentive Opportunity: Set at 75% of base salary (i.e. $356,250).
  • Actual Payment: Libor Michalek received 130.3% of his target, resulting in a payment of $464,443.
  • Vesting Schedule: Not applicable as the Non-Equity Incentive Plan Compensation is a cash-based award contingent on performance.
  • Grant Date: July 1, 2023; Grant date fair value and stock price are not applicable for this cash-based award.