Company: FSLY
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001517413-25-000299
Chunk: 334

Company: Fastly, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 334
---
 a monthly basis over the remaining 36-month period thereafter based on continued service. Forfeitures are recognized as they occur.

28

The following table summarizes stock option activity during the nine months ended September 30, 2025:SharesWeighted-Average ExercisePriceWeighted-AverageRemainingContractualTermAggregateIntrinsic Value(in thousands)(in years)(in thousands)Outstanding stock options at December 31, 20242,364 $8.60 4.3$7,592 Granted— — Exercised(345)2.20 Cancelled/forfeited(234)4.49 Outstanding stock options at September 30, 20251,785 $10.37 4.5$2,725 Vested and exercisable stock options at September 30, 20251,484 $9.14 3.8$2,725 During both the three months ended September 30, 2025 and 2024, the Company recorded stock-based compensation expense from stock options of approximately $0.4 million. During the nine months ended September 30, 2025 and 2024, the Company recorded stock-based compensation expense from stock options of approximately $1.2 million and $1.5 million, respectively.Restricted Stock Units (“RSUs”)The Company began granting RSUs under the 2019 Plan during the fiscal year ended December 31, 2019 as well as under the 2025 Inducement Plan during the three months ended September 30, 2025. The fair value of RSUs is based on the grant date fair value and is expensed on a straight-line basis over the applicable vesting period. RSUs granted to new hires typically vest over three or four years, at the rate of 33% or 25%, respectively, on the first anniversary of the vesting start date and ratably on a quarterly basis over the remaining 24-month or 36-month period thereafter, respectively. RSUs granted to existing employees typically vest in equal quarterly installments over a three or four-year service period. All vesting is contingent on continued service. Forfeitures are recognized as they occur.The following table summarizes RSU activity during the nine months ended September 30, 2025:Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands)Unvested RSUs as of December 31,