Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 275

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 275
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 (“Executive PSUs”)In February 2024, pursuant to the 2019 Plan, the Company granted Executive PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2024. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense over the employees' requisite service period based on the expected attainment of the Company-wide targets as of the end of each reporting period.In February 2025, pursuant to the 2019 Plan, the Company granted Executive PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2025. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense over the employees' requisite service period based on the expected attainment of the Company-wide targets as of the end of each reporting period.Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands)Nonvested PSUs as of December 31, 20241,089 $13.21 Granted1,151 6.82 Vested(131)14.69 Cancelled/forfeited(1,270)10.98 Nonvested PSUs as of June 30, 2025839 $7.59 During the three months ended June 30, 2025 and 2024, the Company recognized $0.4 million of stock-based compensation benefit and $0.7 million of stock-based compensation expense associated with these awards, respectively. During the six months ended June 30, 2025 and 2024, the Company recognized $0.4 million and $2.0 million of stock-based compensation expense associated with these awards, respectively.Company-wide Bonus Programs (“Bonus Programs”)In February 2024, the Compensation Committee approved a Bonus Program, including performance targets, to most of the Company’s employees on active payroll in fiscal year 2024 (“2024 Bonus Program”). Shares awarded under the program were paid out in February 2025 in fully vested RSUs and based on the final attainment of Company-wide performance targets which were tied to its operating plan for fiscal year 2024. The Company recognized stock-based compensation expense over the employees' requisite service period, based on the final attainment of the Company-wide targets. In February 2025, the Company paid out 1.0