Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 338

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 338
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 Forfeitures are recognized as they occur.The following table summarizes RSU activity during the six months ended June 30, 2025:Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands)Unvested RSUs as of December 31, 202411,982 $13.06 Granted9,631 6.05 Vested(4,123)12.73 Cancelled/forfeited(1,901)11.12 Unvested RSUs as of June 30, 202515,589 $9.05 During the three months ended June 30, 2025 and 2024, the Company recognized stock-based compensation expense related to RSUs of $21.7 million and $25.9 million, respectively. During the six months ended June 30, 2025 and 2024, the Company recognized stock-based compensation expense related to RSUs of $43.5 million and $50.5 million, respectively.

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Performance-Based Restricted Stock Units (“PSUs”) Performance stock awards for executive officers (“Executive PSUs”)In February 2024, pursuant to the 2019 Plan, the Company granted Executive PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2024. The Company has accounted for these awards as equity-based awards and will recognize 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.In February 2025, pursuant to the 2019 Plan, the Company granted Executive PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2025. The Company has accounted for these awards as equity-based awards and will recognize 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.Number of SharesWeighted-Average Grant Date Fair Value Per Share(in thousands)Nonvested PSUs as of December 31, 20241,089 $13.21 Granted1,151 6.82 Vested(131)14.69 Cancelled/forfeited(1,270)10.98 Nonvested PSUs as of June 30, 2025839