Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
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Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
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 appointment, Ronald W. Kisling will cease serving as the Company’s Chief Financial Officer on the CFO Transition Date, but will remain employed with the Company in an advisory capacity through September 15, 2025 to provide transition assistance.

The Company has entered into a letter agreement with Mr. Wong (the “Wong Offer Letter”), providing for his appointment as Chief Financial Officer. Under the Wong Offer Letter, Mr. Wong will be paid an annual base salary of $450,000 and, as a material inducement for him to commence employment, be granted an RSU award having an aggregate value of $8,000,000, determined in accordance with Company policy. The RSU grant will vest as to 25% of the RSUs initially subject to the RSU award on August 15, 2026 and as to 1/16th of the RSUs initially subject to the RSU award on each quarterly anniversary thereof thereafter, such that the RSU award will be fully vested on August 15, 2029, in each case, subject to Mr. Wong’s continued employment through the applicable vesting dates. The RSU award will be subject to the provisions of the Company’s 2025 Employee Inducement Incentive Plan. Pursuant to the terms of the Company’s 2025 Bonus Plan, as previously approved by the Board, Mr. Wong will be eligible to receive a pro-rated bonus for 2025 performance with a target amount of 70% of his base salary, payable in the form of RSUs. Beginning in 2026, Mr. Wong will be eligible for an annual performance-based bonus, with a target amount equal to 70% of his base salary, pursuant to the Company’s bonus plan, which will be paid in either cash or equity at the determination of the Board. Mr. Wong 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 Company has entered into an agreement (the “Transition and Separation Agreement”) with Mr. Kisling which provides for Mr. Kisling’s transition as well as severance benefits that are generally consistent with the terms of the Company’s 

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Executive Change in Control and Severance Benefit Plan (the “Severance Plan”). In exchange for a release of claims by Mr. Kisling