Fastly, Inc. filed a current report on Form 8-K on November 4, 2026, disclosing that Scott R. Lovett notified the company on October 30, 2026, of his planned retirement as President, Go to Market, on a date to be determined during 2027.

Key Highlights

  • Planned retirement notified: Scott R. Lovett informed Fastly of his intention to retire as President, Go to Market, with a retirement date expected during 2027.
  • Base salary during transition: Mr. Lovett will continue to receive an annual base salary of $450,000 through the retirement date.
  • Target commission: Mr. Lovett remains eligible for a target annual commission of $450,000 under the Company's Global Sales Compensation Plan during the transition period.
  • Consulting period: Following retirement, Mr. Lovett will serve as a non-employee Senior Advisor through at least June 30, 2027, receiving consulting fees at an annual rate equal to his base salary.
  • Equity vesting continues: Outstanding equity awards will continue to vest per existing schedules through the Consulting Period End Date.
  • Change in Control provision: Under specified circumstances, 100% of Mr. Lovett's then-unvested equity awards would vest, with performance-based conditions deemed achieved at the greater of target level and actual performance.
  • Separation Agreement supersedes prior arrangements: The Separation Agreement supersedes Mr. Lovett's offer letter and his participation in the Company's 2022 Change in Control and Severance Benefit Plan.

Fastly Discloses Transition Terms for Departing President Lovett

According to the filing, Fastly, Inc. (NASDAQ:FSLY) entered into a Transition and Separation Agreement with Scott R. Lovett on October 30, 2026. During the transition period leading up to the retirement date, the filing states that Mr. Lovett will continue to perform his existing duties and support the identification, hiring, and onboarding of a new Chief Revenue Officer, as well as the transition of his responsibilities. No equity awards will be granted to Mr. Lovett during this period.

The filing discloses that upon or after the retirement date, Mr. Lovett will transition to a non-employee Senior Advisor role for a consulting period running through June 30, 2027, described as the "Initial Consulting End Date," or a later date if agreed in writing. During that consulting period, through the Initial Consulting End Date, he will receive consulting fees at an annual rate equal to his base salary, remain eligible to earn commissions, and receive a monthly cash payment in lieu of benefits based on the cost of COBRA coverage. The filing notes that if the consulting period is extended beyond the Initial Consulting End Date, continued vesting of equity awards during any extension will be subject to the Company's reasonable satisfaction with Mr. Lovett's performance.

The filing also states that, subject to execution and non-revocation of a release of claims, Mr. Lovett would be eligible to receive a lump-sum cash severance payment equal to one month of his base salary under certain termination circumstances. A press release announcing the planned retirement was issued by the company on November 4, 2026, and is attached to the filing as Exhibit 99.1. The filing was signed by Richard Wong, Chief Financial Officer of Fastly.

What Was Disclosed

Fastly disclosed Scott R. Lovett's planned retirement as President, Go to Market, and filed the terms of his Transition and Separation Agreement, covering his compensation, consulting arrangements, equity vesting, and change-in-control provisions through the consulting period.