Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 52

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 52
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 value based on competitive market data for companies in our peer group and the competitive market for talent. The Compensation Committee assigned Messrs. Bergman and Nightingale’s grants a 4 year vesting schedule to align with the longer-term focus expected with their role. The target value established by the Compensation Committee was approved based on the average share price of our common stock for the 30 calendar days prior to March 14, 2024, the expected grant approval date. These target values differ from the grant date fair value of the equity awards determined for accounting purposes. 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. The time-based vesting RSUs granted to Mr. Kisling has a vesting schedule such that 1/12 thof the RSUs vested on May 15, 2024 and the remainder vest in 11 quarterly installments thereafter, for a total 36 month vesting period. The time-based RSUs granted to Messrs. Bergman and Nightingale have a vesting schedule such that 1/16 thof the RSUs vested on May 15, 2024 and the remainder vest in 15 equal quarterly installments thereafter, for a total of a 48 month vesting period. Performance-Based Restricted Stock Unit Grants In March 2024, our Compensation Committee approved the grant of PSUs for Messrs. Bergman, Kisling, and Nightingale. The target value of PSUs reflected 30% of the total long-term incentive target value for Messrs. Bergman and Kisling, and 60% of the total long-term incentive target value for Mr. Nightingale, taking into consideration competitive market data for companies in our peer group and the competitive market for talent. The target value established by the Compensation Committee was approved based on the average share price of our common stock for the 30 calendar days prior to March 14, 2024, the expected grant approval date. This target value differs from the grant date fair value of the equity awards determined for accounting purposes. 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. The table above reflects the target number of shares eligible to be earned by each of Messrs. Bergman, Kisling, and Nightingale, with the maximum payout being equal to 150% of target. The Compensation Committee approved