Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 36

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 36
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centive Outcomes: The annual incentive (bonus) and PSUs were achieved at 25.0% of target based on the financial goals established at the beginning of 2024. |

| • | Enhanced Ownership Guidelines: In February 2024, and as reported in last year’s proxy, the Compensation Committee increased the executive stock ownership guidelines to be more rigorous and required the CEO to hold 6.0x his annual base salary (up from 3.0x) and required other executive officers to hold 3.0x their annual base salary (up from 1.0x). |

2024 “Say-on-Pay” Advisory Stockholder Vote on Executive Compensation & Stockholder Engagement In calendar year 2024, stockholders were provided with the opportunity to cast a non-binding advisory vote (a “say-on-pay” proposal) on the compensation of our Named Executive Officers for fiscal 2023. Our stockholders approved this say-on-pay proposal with a low margin of support, with 51.6% of votes in favor of our executive compensation program (excluding broker non-votes). This was the second consecutive year of a lower say-on-pay vote following the 47.1% support in 2023 covering compensation actions for our Named Executive Officers for fiscal 2022. The Compensation Committee and our full Board of Directors takes this say-on-pay vote outcome seriously and values the feedback from stockholders. Similar to the process used in late 2023, to better understand this vote result and stockholder concerns, the Compensation Committee continued stockholder outreach in early 2024 and throughout the year to solicit feedback to ensure that we received insight into the issues that were most important to our stockholders, including corporate governance practices. These engagement sessions were instructive and we expect to continue to engage with our stockholders as we evolve our compensation and governance. In late 2023, we contacted 30 of our institutional stockholders representing an aggregate of approximately 45% of our outstanding common stock and met with institutional stockholders representing an aggregate of approximately 28% of our outstanding common stock. The discussions were led by the chair of our Board of Directors David Hornik, and the chair of the Compensation Committee, Charles Meyers, both independent directors of the Company, with members of management, and Aida Álvarez, the chair of the Nominating and Corporate Governance Committee, available to support the discussions. The team met with governance professionals from passive funds as well as investment professionals from active funds. During 202