secwatch.observer — SEC 8-K summary
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Issuer:     Fastly, Inc. (FSLY)
CIK:        0001517413
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001517413-23-000074
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fastly grants founder Artur Bergman performance stock option for 2.3M shares tied to stock price milestones
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- Nonstatutory stock option to purchase 2,296,000 shares (≈1.81% of outstanding) at $16.41 per share.
- Option vests in four tranches of 574,000 shares each upon achieving stock price milestones ($17.25, $23.00, $34.50, $46.00).
- Upon stockholder approval, Bergman's base salary is reduced to ~$35,965/year and he forfeits 24,143 RSUs.
- Award subject to stockholder approval at the 2023 annual meeting; otherwise expires and shares are unavailable.
- Performance period from Sep 1, 2022 to Sep 6, 2027; milestones based on 60-day average closing price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517413/000151741323000074/0001517413-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517413/000151741323000074/fsly-20230412.htm
  HTML page:      https://secwatch.observer/filing/0001517413-23-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer