Adriel G. Lares - Jul 15, 2021 Form 4 Insider Report for Fastly, Inc. (FSLY)

Role: Chief Financial Officer
Signature: /s/ Seth Gottlieb, Attorney-in-Fact
Stock symbol: FSLY
Transactions as of: Jul 15, 2021
Transactions value $: -$250,000
Form type: 4
Date filed: 7/19/2021, 06:07 PM
Previous filing: May 20, 2021
Next filing: Dec 8, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FSLY	Class A Common Stock	Options Exercise	$0	+5K	+2.79%	$0.00	184K	Jul 15, 2021	Direct
transaction	FSLY	Class A Common Stock	Sale	-$250K	-5K	-2.71%	$50.00	179K	Jul 15, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FSLY	Employee Stock Option (Right to Buy)	Other	$0	-570K	-100%	$0.00^*	0	Jul 12, 2021	Class B Common Stock	570K	$2.36	Direct	F2, F3, F4
transaction	FSLY	Employee Stock Option (Right to Buy)	Other	$0	+570K		$0.00	570K	Jul 12, 2021	Class A Common Stock	570K	$2.36	Direct	F2, F3, F4
transaction	FSLY	Employee Stock Option (Right to Buy)	Options Exercise	$0	-5K	-0.88%	$0.00	565K	Jul 15, 2021	Class A Common Stock	5K	$2.36	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F2	On October 12, 2020, the Issuer's outstanding shares of Class B Common Stock represented less than 10% of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock. As a result, each share of the Issuer's Class B Common Stock automatically converted into one share of Class A Common Stock pursuant to the Issuer's amended and restated certificate of incorporation, as amended on July 12, 2021.
F3	In connection with the automatic conversion described in footnote (2), outstanding Class B Common Stock options that were issued under the Issuer's 2011 Equity Incentive Plan remain unchanged, except that the underlying shares are now Class A Common Stock.
F4	The stock option vested and became exercisable as to 25% of the shares subject to the option on May 16, 2017, and thereafter vested as to 1/48th of the shares in equal monthly installments, until such time as the option is 100% vested, subject to the continuing employment of the reporting person on each vesting date.