Albert Thong
FastlyAbout Albert Thong
Albert Thong is Chief Marketing Officer (CMO) at Fastly, appointed May 15, 2025, after leading Growth Marketing at Fastly; he previously held marketing leadership roles at Check Point . In August 2025, Fastly centralized revenue and marketing under a President, Go to Market; Thong reports to that role, signaling tighter revenue alignment . Company performance context during 2024–Q2 2025: FY 2024 revenue grew 7% YoY with improved gross margins, and quarterly revenue continued to rise through Q2 2025; these are among the metrics used in executive incentives (revenue, non-GAAP operating loss, and three-year relative TSR) .
Company financial context
| Metric | FY 2024 |
|---|---|
| Total Revenue ($M) | $543.7 |
| YoY Revenue Growth | 7% |
| GAAP Gross Margin | 54.4% |
| Non-GAAP Gross Margin | 57.8% |
| GAAP Operating Loss ($M) | $(167.9) |
| Non-GAAP Operating Loss ($M) | $(27.0) |
| Total Revenue ($M) | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 |
|---|---|---|---|---|
| Fastly | $137.2 | $140.6 | $144.5 | $148.7 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Fastly | Head of Growth Marketing (prior to CMO) | — | Drove tighter alignment with revenue and product; contributed to go-to-market execution . |
| Check Point | Marketing leadership roles | — | Brand building and product expansion experience leveraged for Fastly’s GTM . |
External Roles
- Not disclosed in company filings or official press releases as of Q2/Q3 2025.
Fixed Compensation
- No CMO offer letter or base salary details for Thong were filed in 8-Ks or the 2025 proxy; no base salary, target bonus %, or cash perquisites are disclosed for him .
Performance Compensation
Fastly’s 2025 program (applicable to executive officers) adds a three-year relative TSR PSU and increases the performance-based mix for non-CEO executives to 40%; annual bonuses for executive officers have historically been tied to revenue and non-GAAP operating loss (paid in RSUs). Specific grant values and targets for Thong have not been disclosed.
| Incentive type | Metric | Weighting (non-CEO execs 2025) | Targeting approach | Vesting cadence |
|---|---|---|---|---|
| Performance Stock Units (PSUs) | Revenue and non-GAAP operating loss (1-year) | 25% of LTI | Threshold/target/max with linear interpolation (structure consistent with 2024 design) | Post-certification staged vesting (illustrative 2024 PSU cadence: 33% at certification, then quarterly) . |
| Performance Stock Units (rTSR PSUs) | 3-year relative TSR vs Russell 2000 | 15% of LTI | 3-year performance period | 3-year PSU structure . |
| Time-based RSUs | N/A | 60% of LTI | Alignment/retention; no performance condition | Executive RSUs typically vest quarterly over 3–4 years (examples in 2024 awards) . |
| Annual bonus (historical structure) | Revenue (66.7%), non-GAAP operating loss % (33.3%) | N/A | RSU-settled; 2024 payout at 25% of target for NEOs | Paid as fully vested RSUs after year-end . |
Notes:
- 2025 mix: CEO 50% performance-based; non-CEO executive officers 40% performance-based (25% operational PSUs + 15% rTSR PSUs) .
- Say-on-pay history drove these design changes (51.6% support in 2024) .
Equity Ownership & Alignment
- Beneficial ownership: Not disclosed for Thong in the 2025 proxy (record date March 15, 2025) as his appointment occurred in May 2025 ; no split of vested vs unvested, options, or pledged shares disclosed for him.
- Stock ownership guidelines: Executive officers must hold 3x base salary (CEO 6x); five-year compliance horizon .
- Hedging/pledging: Hedging prohibited; pledging prohibited absent pre-approved exception. Only CTO Artur Bergman has an approved pledge; no other executives were noted as pledging shares .
- Trading plans: Q2 2025 10-Q disclosed new Rule 10b5-1 plans for the former CEO, new CEO (Compton), and CTO; no plan was disclosed for Thong in that quarter .
Employment Terms
- Appointment: Announced as CMO on May 15, 2025 .
- Organization/reporting: From August 6, 2025, Marketing is part of the President, Go to Market organization; CMO Thong reports to President, Go to Market (Scott Lovett) .
- Severance/change in control: Fastly maintains an Executive Change in Control and Severance Plan (2022) with double-trigger equity acceleration; executives participate per plan terms (CEO/CFO may have enhanced terms). Specific multiples for the CMO were not disclosed .
Investment Implications
- Pay-for-performance alignment: The 2025 design adds 3-year rTSR PSUs and lifts the performance-based mix for non-CEO executives to 40%, improving alignment with shareholder returns and balancing 1-year operating metrics with multi-year market-relative performance .
- Selling pressure/vesting cadence: Executive pay remains RSU-heavy (60% of LTI for non-CEO execs), which typically vests quarterly and can create predictable sell-to-cover tax flows near vest dates; no individual 10b5-1 plan for Thong was disclosed in Q2 2025 to structure sales, so monitor future Form 4s for signal and cadence .
- Retention risk: Thong’s specific employment economics (base, target bonus, initial equity) are not on file; however, participation in the company-wide severance/change-in-control plan and the reorganization tying Marketing under a revenue leader suggest intent to retain and directly link marketing outcomes to growth, reducing misalignment risk .
- Operating scorecard linkage: Fastly’s incentives emphasize revenue growth and non-GAAP operating loss reduction; company reported 7% FY 2024 revenue growth and improving gross margins, with continued quarterly revenue gains through Q2 2025—metrics that will influence PSU outcomes and bonus frameworks .
Sources and references
- Appointment and background: Fastly press release and IR site (May 15, 2025) .
- Organization/reporting changes and executive updates: Q2 2025 8-K press materials and investor supplement .
- Executive compensation framework, say-on-pay, stock ownership, clawbacks, hedging/pledging, severance plan: 2025 DEF 14A .
- Quarterly and annual performance metrics: 2025 DEF 14A and Q2 2025 investor supplement .
- 10b5-1 plans (Q2 2025): Q2 2025 10-Q Item 5 .
Note: Fastly has not filed a CMO offer letter or proxy-level compensation table for Thong as of the cited filings; where company-level practices are referenced (e.g., stock ownership guidelines, severance plan), they reflect Fastly-wide executive officer policies.