Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 38

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 38
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-year revenue and profitability goals (same as previous years), and 50% time-based restricted stock units (“RSUs”). For non-CEO Named Executive Officers, the LTI mix is 15% based on 3-year rTSR, 25% based on 1-year revenue and profitability goals and 60% time-based RSUs. The percentage of performance-based LTI is determined based on the intended target value of the PSUs granted. 
 These changes ensure that the CEO has at least 50% of his LTI (based on the intended target value of the PSUs granted) tied to performance-based vesting criteria and enhances the performance orientation for the other Named Executive Officers. The Compensation Committee considered several factors when landing at this approach including stockholder feedback, the impact on the vesting experience in shifting a portion of the PSU design to have a three-year performance and vesting period, and the competitive market context for similarly sized industry peers. The Compensation Committee will continue to evaluate the mix of PSUs to ensure a strong pay-for-performance orientation.                                                                                                                                                                       |

For the fiscal year ended December 31, 2024, taking into account the result of the advisory say-on-frequency vote held at the 2021 annual meeting of stockholders, we will again be conducting an annual advisory say-on-pay vote as described further in Proposal 3 of this Proxy Statement. Although this is a non-binding advisory vote, we value the opinions of our stockholders. Our Board of Directors and our Compensation Committee will consider the outcome of the say-on-pay advisory vote, in addition to other relevant stockholder feedback that may be received, when making compensation decisions for our Named Executive Officers. For more information on the say-on-pay vote, please review Proposal 3 set forth earlier in this Proxy Statement. Compensation Philosophy and Objectives

Our mission is to fuel the next modern digital experience by providing developers with a programmable and reliable edge cloud platform that they adopt as their own. Our compensation philosophy and programs are designed to attract, retain, and motivate talented employees who will help us realize this vision. Compensation objectives include:

| • | Supporting our ability to recruit, retain and motivate top talent; |

| • | Aligning the interests of our executives with those of our stockholders; |

| • | Reinforcing a strong pay-for-performance culture; and |

| • | Balancing short- and long-term corporate goals and strategy. |

We seek to achieve these objectives by providing compensation that is competitive with the practices of companies in our compensation peer group and