Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 54

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 54
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. The grant date fair value of the PSUs is reported in the Grants of Plan-Based Awards Table below. |

Chief Revenue Officer Equity Awards On May 28, 2024 we announced that Mr. Lovett would begin serving as our Chief Revenue Officer, effective June 3, 2024. In designing Mr. Lovett’s compensation package, our Compensation Committee, advised by Semler Brossy, sought to deliver a competitive level of compensation that aligns with our desired culture and objectives. Our Compensation Committee reviewed, with input from Semler Brossy, market data among companies in our compensation peer group as well as new-hire equity compensation among recently hired Chief Revenue Officers of comparable public companies. In addition to market data, our Compensation Committee considered the highly competitive market for a talented, experienced technology executive, the relevance of Mr. Lovett’s experience and capabilities, and the fact that he would not receive another equity grant until 2025 due to his start date and our usual equity grant cadence. Based on these considerations, on May 14, 2024, the Compensation Committee approved Mr. Lovett’s offer letter, including an equity grant with a $9,000,000 target value in connection with his hiring. Subsequently, consistent with our company-wide new hire grant process, in July 2024, the Compensation Committee approved a grant of time-based vesting RSUs (“Lovett New Hire Grant”), with the number of RSUs determined using the average closing price of our common stock during the month of June, the month of Mr. Lovett’s start date. The Lovett New Hire Grant has a vesting schedule such that 1/4 thof the RSUs will vest on June 15, 2025, and the remainder vest in 12 equal quarterly installments thereafter, for a total of a 4 year vesting period. The grant date fair value of the equity awards is reported below in our 2024 Summary Compensation Table and 2024 Grants of Plan-Based Awards Table. Additional Information Stock Ownership Guidelines Our Board adopted mandatory stock ownership guidelines for our CEO, other executive officers and non-employee directors (together, “Guideline Participants”). These guidelines are intended to align the interests of our Guideline Participants with those of our stockholders by requiring them to acquire and maintain a meaningful equity stake in the Company. In February 2024, our Compensation Committee introduced more robust stock ownership guidelines for our Named Executive Officers, requiring the CEO to hold 6x his annual base salary