Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 266

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 266
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. The Company has accounted for these awards as liability-based awards, since the 

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monetary value of the obligation associated with the award is based predominantly on a fixed monetary amount known at inception, and it has an unconditional obligation that it must or may settle by issuing a variable number of its equity shares. The Company is recognizing the stock-based compensation expense over the employees requisite service period, based on the expected attainment of the Company-wide targets as of the end of each reporting period. During the three months ended March 31, 2025 and 2024, the Company recognized $3.7 million and $6.5 million of stock-based compensation expense associated with the Bonus Programs, respectively. Market-Based Performance Stock Awards (“MPSUs”)In September 2022 and January 2023, pursuant to the 2019 Plan, the Company granted certain employees shares of MPSUs, which are to vest upon the satisfaction of the Company’s achievement of specified Fastly common stock price targets during the applicable performance period. In addition, the awards are subject to each recipient’s continuous service through each applicable vest dates.  Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands)Nonvested MPSUs as of December 31, 20241,313 $6.45 Granted— — Vested— — Cancelled/forfeited— — Nonvested MPSUs as of March 31, 20251,313 $6.45 Stock-based compensation expense relating to the MPSUs are recognized using the accelerated attribution method over the derived service period. During the three months ended March 31, 2025 and 2024, the Company recognized $0.4 million and $0.7 million stock-based compensation expense associated with these awards, respectively. Relative Total Shareholder Return Award PSUs (“rTSR PSUs”)In February and March 2025, pursuant to the 2019 Plan, the Company granted certain employees shares of rTSR PSUs, which are to vest based on the Company’s total shareholder return (TSR) relative to a designated peer group over the performance period. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense on a straight-line basis over the vesting period. In addition, the awards are subject to each recipient’s continuous service through the vest date.Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands