Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 53

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 53
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 the 2024 Objectives, with achievement between threshold, target and maximum payout to be determined linearly. The number of PSUs certified as earned by the Compensation Committee is referred to as the “Actual Award.” The Actual Award vested as to 33% of the PSUs subject thereto on February 26, 2025, and will vest as to 8.375% of the PSUs subject thereto in equal quarterly installments

38 | 2025 PROXY STATEMENT

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thereafter (occurring in May, August, November, and February), with each quarterly vesting date occurring on the same day of the month as the Certification Date (or, if there is no corresponding day of the month, the last day of the month), in each case, subject to the individual’s continuous service through each applicable vesting date. In February 2025, our Compensation Committee determined that based on our actual achievement of the 2024 Objectives, the Company did not meet the threshold of its revenue target and achieved -5.0% (between target and maximum) of its non-GAAP operating loss as a percentage of revenue target (See Appendix A for a reconciliation of non-GAAP operating loss). After applying a 66.7% weighting to the revenue payout factor of 0%, and a 33.3% weighting to the non-GAAP operating loss as a percentage of revenue payout factor of 75.0%, Messrs. Bergman’s, Kisling’s, and Nightingale’s 2024 Actual Award is 25.0% of the PSUs at Target.

| Executive        |     | PSUs at Target |     |   Intended 
 PSU Target 
   Value(1) |     | PSUs Actually Earned |
| Todd Nightingale |     |        298,210 |     | $4,500,000 |     |               74,552 |
| Artur Bergman    |     |         92,147 |     | $1,390,500 |     |               23,036 |
| ​Ronald Kisling  |     |         59,642 |     |   $900,000 |     |               14,910 |

| (1) | We determine the number of PSUs at target by dividing the Intended PSU Target Value by the average closing trading price of a share of our common stock over the 30 calendar days ending one day prior to the expected date of grant