Form 4: Fastly Chief Technology Officer Sells Shares to Cover Tax Obligations and Under Pre-Arranged Trading Plan

Fastly's Chief Technology Officer, Artur Bergman, sold a portion of his Class A Common Stock to cover tax obligations and under a pre-arranged trading plan.

Summary

• Artur Bergman, the Chief Technology Officer of Fastly, Inc., has reported the sale of company stock.
• On November 18, 2024, he sold 16,922 shares at a weighted average price of $6.25, with individual transactions ranging from $6.25 to $6.46.
• On November 19, 2024, he sold an additional 20,806 shares at a weighted average price of $6.61, with individual transactions ranging from $6.31 to $6.71.
• These sales were made to satisfy tax obligations related to the vesting of restricted stock units and under a pre-arranged Rule 10b5-1 trading plan adopted on June 3, 2024.
• Following these transactions, Mr. Bergman directly owns 6,118,094 shares of Class A Common Stock.
• He also indirectly owns 840,005 shares through The Artur Bergman Remainder Trust One, 109,686 shares through The Artur Bergman Remainder Trust Three, 717,691 shares through The Per Artur Bergman Grantor Retained Annuity Trust No. 2, and 282,309 shares through The Per Artur Bergman Grantor Retained Annuity Trust No. 3.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock sales by an executive. It doesn't indicate any positive or negative sentiment about the company's performance or future prospects.

Risks

• Sales by company insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.

Industry Context

This is a routine filing related to insider trading activity and is common for executives who receive stock-based compensation. It does not indicate any specific trend in the industry.

Comparison to Industry Standards

• Sales of stock by executives are a common occurrence in publicly traded companies, especially after vesting of stock options or restricted stock units.
• The use of a Rule 10b5-1 trading plan is a standard practice to avoid accusations of insider trading, and many executives at comparable tech companies such as Cloudflare, Akamai, and Limelight Networks use similar plans.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but the use of a pre-arranged trading plan mitigates concerns about insider trading.

Key Dates

Keywords

Fastly, FSLY, Artur Bergman, stock sale, insider trading, Rule 10b5-1, Chief Technology Officer, SEC Form 4, equity securities, restricted stock units