Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 41

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 41
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 of our Named Executive Officers were also eligible to participate in our 2024 Bonus Program (the “2024 Bonus Program”) on the same basis as our other employees.

2025 PROXY STATEMENT | 31

TABLE OF CONTENTS

For 2024, the material elements of our executive compensation program were:

| Compensation Element              |     | Relationship to Business Objectives                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Base Salary                       |     | Base salaries are set to be competitive within our industry and are important in attracting and retaining talented executives. Base salaries may be adjusted based on numerous factors, including a change in a Named Executive Officer’s responsibilities, demonstrated performance or relevant competitive market data.                                                                                                                                           
 In 2024, Mr. Bergman was eligible to reduce his base salary to a lesser amount (in no event lower than the applicable minimum wage) and receive reimbursement for private aircraft usage for his business travel and an RSU award with a total value not to exceed the amount of such reduction. Mr. Bergman elected to reduce his base salary to the applicable minimum wage.                                                                                      |
| Annual Incentive                  |     | In 2024, our Named Executive Officers, except for Mr. Lovett, were eligible for annual incentives tied to our level of achievement of annual revenue goals pursuant to our 2024 Bonus Program. Awards under the 2024 Bonus Program were paid as fully vested RSUs. Mr. Lovett was eligible to participate in our Commission Plan (as defined below), which tied his annual compensation directly to achievement of certain sales metrics.                           |
| Annual Long-Term Incentive Equity |     | In our annual long-term incentive design, we primarily rely on a combination of PSUs and time-based RSUs. All of our Named Executive Officers, except for Mr. Lovett who was not employed by us when we granted PSUs in March 2024, received both PSUs and RSUs in 2024.                                                                                                                                                                                            
 For 2024, the PSUs represent 60% of the LTI opportunity for Mr. Nightingale and 30% of the LTI opportunity for each of Mr. Bergman and Mr. Kisling (in each case, based on the intended target value of the PSUs granted), and reward executives for meeting certain financial performance requirements set up at the beginning of the year. The focus on revenue growth and profitability are key value creation metrics for our business.                         
 The RSUs represent 40% of the LTI opportunity for Mr. Nightingale,