Company: FSLY
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015174
Chunk: 35

Company: Fastly, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 35
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8%, compared to 56.9% in fiscal 2023 |

| • | U.S. GAAP operating loss of $167.9 million, compared to $198.0 million in fiscal 2023; non-GAAP operating loss of $27.0 million, compared to $36.7 million in fiscal 2023 |

| • | U.S. GAAP net loss of $158.1 million, compared to $133.1 million in fiscal 2023; non-GAAP net loss of $17.2 million, compared to $21.7 million in fiscal 2023 |

| • | U.S. GAAP net loss per basic and diluted shares of $1.14 compared to $1.03 in fiscal 2023; non-GAAP net loss per basic and diluted shares of $0.12, compared to $0.17 in fiscal 2023 |

Please refer to Appendix A of this Proxy Statement for a reconciliation of non-GAAP financial measures to their corresponding U.S. GAAP measures.

26 | 2025 PROXY STATEMENT

TABLE OF CONTENTS

2024 Compensation Highlights

Our 2024 compensation plans and payouts for our Named Executive Officers reflect our overarching philosophy of pay-for-performance. Highlights of our executive compensation program include:

| • | No changes to Cash and Annual Incentive (bonus) Compensation for 2024: The Compensation Committee did not make any changes to our Named Executive Officers’ base salaries for 2024 or our Named Executive Officers’ target bonuses. |

| • | No Increases to Annual Equity Grant Values for 2024: The Compensation Committee did not make any increases to continuing Named Executive Officers’ annual equity grant values. We provide more details in the section titled “Chief Revenue Officer Equity Awards” below with regard to our Chief Revenue Officer’s grant in connection with his hiring. |

| • | Maintained At Least 50% of CEO’s Equity Tied to Performance-based Vesting Conditions: For 2024, the Compensation Committee increased the CEO’s mix of long term incentive (“LTI”) |

awards to be 60% connected to performance-based restricted stock units (“PSUs”) (up from 50% in 2023) (based on the intended target value of the PSUs granted) in response to stockholder feedback. See below under “Equity Compensation – Performance-Based Restricted Stock Unit Grants” for a discussion of how we convert intended target value into a number of PSUs.

| • | Below Target In