Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 71

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 71
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 will vest and, as applicable, be exercisable, and (v) his outstanding and unvested equity awards that are subject to performance-based vesting will vest and, as applicable, be exercisable, as to the number of shares subject to such performance award that would have vested if he had completed an additional 12 48 | 2025 PROXY STATEMENT TABLE OF CONTENTS months of employment following the date of termination, on a prorated basis and based on actual level of achievement as of the date on which the termination occurred. Under the 2022 Plan, if Mr. Lovett is terminated other than for cause, or he resigns for good reason, at any time other than during the change in control period, he will be eligible to receive the following severance benefits (less applicable tax withholding): (i) a lump sum cash amount equal to nine months of his then-current annual base salary, (ii) continuation of health plan benefits for him and his eligible dependents at no cost under COBRA for up to nine months, (iii) nine months of his then outstanding and unvested equity awards that are subject to time-based vesting will vest and, as applicable, be exercisable, and (v) his outstanding and unvested equity awards that are subject to performance-based vesting will vest and, as applicable, be exercisable, as to the number of shares subject to such performance award that would have vested if he had completed an additional nine months of employment following the date of termination, on a prorated basis and based on actual level of achievement as of the date on which the termination occurred. To receive the severance payments and benefits above upon a qualifying termination of employment, Mr. Kisling, Mr. Lovett, or Mr. Nightingale, as applicable, must sign and not revoke a general release of claims in our favor by the deadline set forth in the applicable Severance Plan. If any of the payments provided for under the applicable Severance Plan or otherwise payable to Mr. Kisling, Mr. Lovett, or Mr. Nightingale would constitute “parachute payments” within the meaning of Section 280G of the Code and would be subject to the related excise tax under Section 4999 of the Code, then they will be entitled to receive either full payment of benefits or such lesser amount which would result in no portion of the benefits being subject to the excise tax, whichever results in the greater amount of after-tax benefits to them.