Max Levchin

Max Levchin is the Founder, CEO, and Chairman of AFRM, establishing the company in 2012. He has led the company from its inception and continues to serve in his executive roles, shaping its strategic vision and overall direction. "

Before founding AFRM, he played key roles in the fintech industry, notably co-founding PayPal where he served as Chief Technology Officer, and contributing to the development of Yelp Inc. His work in these companies has underscored his expertise in technology innovation and financial services. " "

With a strong technical background in computer science, his leadership has been instrumental in driving product innovation and operational success at AFRM. As of October 1, 2024, he is 49 years old, reflecting a career marked by significant contributions to both technology and finance. "

Value Creation Award

• Tranche 1: $65.66 for 1,000,000 options " "
• Tranche 2: $82.32 for 1,000,000 options " "
• Tranche 3: $98.98 for 1,000,000 options " "
• Tranche 4: $115.64 for 1,000,000 options " "
• Tranche 5: $132.30 for 1,000,000 options " "
• Tranche 6: $148.47 for 1,000,000 options " "
• Tranche 7: $165.13 for 1,000,000 options " "
• Tranche 8: $181.79 for 1,000,000 options " "
• Tranche 9: $247.94 for 2,250,000 options " "
• Tranche 10: $371.91 for 2,250,000 options " "
• Performance Condition: Achieved when the 90-day average trading volume-weighted share price exceeds the respective hurdle.
• Goal/Target: Long-term shareholder value creation with all tranches rewarding increased share price. | 15% (Year 1), 15% (Year 2), 20% (Year 3), 25% (Year 4), 25% (Year 5) " " | - Exercise Price: $49.00 (IPO price) " "
• Grant Date: January 12, 2021 " "
• Expiration Date: January 12, 2031 " "
• 2024 Status: As of June 30, 2024, the first four tranches have been earned (earning 4,000,000 shares cumulatively) " " |

Note: No additional performance compensation component (e.g., cash incentives) is available for 2024 beyond the Value Creation Award details provided.