Ronald W. Kisling - Nov 15, 2023 Form 4 Insider Report for Fastly, Inc. (FSLY)

Signature
/s/ Karen Greenstein, Attorney-in-Fact
Stock symbol
FSLY
Transactions as of
Nov 15, 2023
Transactions value $
-$781,940
Form type
4
Date filed
11/17/2023, 05:07 PM
Previous filing
Oct 19, 2023
Next filing
Dec 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FSLY Class A Common Stock Options Exercise +57.5K +12.49% 518K Nov 15, 2023 Direct F1
transaction FSLY Class A Common Stock Sale -$782K -48.1K -9.3% $16.24 470K Nov 16, 2023 Direct F2, F3

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 Performance rights Options Exercise $0 -57.5K -25% $0.00 173K Nov 15, 2023 Class A Common Stock 57.5K Direct F1, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the conversion of previously granted performance-based restricted stock units (PRSUs). Each PRSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. 57,500 of the 230,000 PRSUs vested based on the achievement of a performance condition (Issuer's Class A Common Stock achieving a sixty-day consecutive trailing average closing price of $17.25 per share).
F2 Shares sold to satisfy tax obligations in connection with the vesting of previously granted Restricted Stock Units and PRSUs.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.13 to $16.32. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.
F4 One fourth of the PRSUs will vest upon the Issuer's Class A Common Stock achieving a market price of $17.25 per share (with the earliest such vesting date being November 15, 2023, including if the performance condition is satisfied before such date); one fourth of the PRSUs will vest upon the Issuer's Class A Common Stock achieving a market price of $23.00 per share (with the earliest such vesting date being November 15, 2024, including if the performance condition is satisfied before such date);
F5 one fourth of the PRSUs will vest upon the Issuer's Class A Common Stock achieving a market price of $34.50 per share (with the earliest such vesting date being November 15, 2025, including if the performance condition is satisfied before such date);one fourth of the PRSUs will vest upon the Issuer's Class A Common Stock achieving a market price of $46.00 per share (with the earliest such vesting date being November 15, 2026, including if the performance condition is satisfied before such date). Any unvested tranche will be forfeited if the applicable market price is not achieved on or before September 6, 2027.
F6 Represents the maximum number of shares remaining that may be issued pursuant to the PRSUs.