Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 50

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 50
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 year and reward contributions to our long-term revenue growth. Mr. Lovett’s target incentive for fiscal 2024 was based on specified target revenue quotas. For 2024, Mr. Lovett’s total commission target was $450,000 for the full year, or $225,000 as pro-rated for his start date. Under the Commission Plan, commissions are paid the month after the close of the fiscal quarter and are deemed earned after, among other requirements, we receive customer revenue from the sale. For the year ended December 31, 2024, Mr. Lovett earned $236,583 under the Commission Plan. Equity Compensation As a high-growth company in a dynamic market sector, we believe that stock awards with multi-year vesting are an effective tool for motivating our Named Executive Officers to drive long-term stockholder value. A majority of the target total direct compensation opportunity provided to our Named Executive Officers, was awarded in RSUs with multi-year vesting requirements or PSUs tied to the achievement of certain corporate objectives. This program reflects the Compensation Committee’s goal of maintaining strong alignment between pay and performance for our most senior leaders. As further described in “Employment Arrangements–Artur Bergman” below, beginning in 2024, Mr. Bergman may make an election to receive his annual equity refresh in the form of (i) a stock option grant and (ii) RSUs on the same terms as generally applicable to other senior Fastly executives for such year. Fiscal 2024 Annual Long-Term Incentive Equity In March 2024, we granted annual long-term incentive equity awards with multi-year vesting requirements to incentivize and reward our Named Executive Officers for long-term corporate performance. The annual equity awards granted to our Named Executive Officers were determined by our Compensation Committee after reviewing data from competitive market analyses prepared by Semler Brossy. In addition, our Compensation Committee considers the input of our CEO regarding the individual performance and pay levels for his direct reports.

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For fiscal 2024 annual grants, approximately 30% of the target annual equity value awarded to Messrs. Bergman and Kisling was granted in the form of PSUs. The remaining 70% of the target annual equity value was granted in the form of time-vesting RSUs. Mr. Nightingale was granted approximately 60% of the target annual equity value in the form of PSUs, and the remaining 40% in