Company: FSLY
Filing Date: 2025-08-06
Form Type: 8-K
Source: 0001517413-25-000215
Chunk: 3

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 8-K
Item: Item 5.02
Chunk 3
---
 Commission (the “ SEC”) as an exhibit to the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2025.

The foregoing description of the Wong Offer Letter with Mr. Wong is qualified in its entirety by reference to the Wong Offer Letter, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Mr. Wong will also enter into an indemnification agreement with the Company in the form previously approved by the Board and filed with the SEC.

President, Go To Market Offer Letter

On August 1, 2025, Mr. Lovett entered into a letter agreement with the Company (the “ Lovett Offer Letter”), providing for his promotion from Chief Revenue Officer to President, Go to Market, effective as of August 6, 2025. Under the Lovett Offer Letter, Mr. Lovett is to be paid an annual base salary of $450,000 and be granted (i) an equity award having an aggregate value of $1,000,000, determined in accordance with Company policy but using a minimum conversion value of $9 per share, that covers shares of the Company’s Class A common stock, 60% of which will be comprised of RSUs, 25% of which will be comprised of PSUs that vest based on the achievement of financial metrics and 15% of which will be comprised of PSUs that vest based on the achievement of total stockholder return relative to the Company’s peer group, and (ii) an equity award having an aggregate value of $2,500,000, determined in accordance with Company policy but using a minimum conversion value of $9 per share, and that vest based on the achievement of financial metrics. Such RSUs and PSUs will be granted pursuant to the Company’s 2019 Equity Incentive Plan. Mr. Lovett is eligible to earn commissions under the Company's Global Sales Compensation Plan, as regularly updated, with an annual total commission target of 100% of his annual base salary. Mr. Lovett will be eligible to participate in the Company’s 2022 Change in Control and Severance Benefit Plan, a copy of which was filed with the SEC as an exhibit to the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2025.

The foregoing description of the Lovett Offer Letter with Mr. Lovett is qualified in its entirety by reference to the Lovett Offer Letter, a copy of which is