Richard Wong
FastlyAbout Richard Wong
Richard “Rich” Wong, age 50, became Fastly’s Chief Financial Officer on August 11, 2025, after serving briefly as Senior Advisor to the CEO starting August 7, 2025 . He holds an MBA from Northwestern University’s Kellogg School of Management and a BS in Business Administration from UC Berkeley; prior roles include CFO at Benchling (Nov 2020–May 2024) and Houzz (May 2018–Nov 2020), and senior finance positions at LinkedIn and Yahoo!, following an investment banking start at JPMorgan and Banc of America Securities . Early tenure coincided with record Q3 2025 Adjusted EBITDA of $25.7M and improved non-GAAP diluted EPS to $0.07, while GAAP diluted shares rose with equity usage [6]; Q3 2025 revenue guidance was $149–$153M and FY25 $594–$602M .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Benchling | Chief Financial Officer | Nov 2020 – May 2024 | Helped scale revenue, launch new products, and expand internationally |
| Houzz Inc. | Chief Financial Officer | May 2018 – Nov 2020 | Led finance in a consumer-tech platform context |
| LinkedIn; Yahoo! | Senior finance roles | Not disclosed | Built high-performing teams; operational excellence foundation |
| JPMorgan; Banc of America Securities | Investment banking | Not disclosed | Corporate finance and capital markets grounding |
External Roles
- None disclosed in Fastly filings regarding public company board service or external directorships for Richard Wong .
Fixed Compensation
| Component | Detail | Amount | Notes |
|---|---|---|---|
| Base salary | Annual | $450,000 | Paid on normal payroll schedule; exempt role |
| Annual bonus target | Starting 2026 | 70% of base salary | Paid in cash or equity at Board’s discretion |
| 2025 bonus (pro‑rated) | Form | RSUs (subject to performance certification) | Based on 2025 objectives approved by Board |
| Legal fees reimbursement | One‑time | Up to $20,000, tax gross‑up | For negotiation/documentation of CFO offer |
| Travel policy | Air travel | Business class | Expense reimbursement per policy |
| Benefits | Standard | Not quantified | Eligible for Fastly’s standard benefits (health, dental, PTO, etc.) |
Performance Compensation
| Metric/Plan | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| 2025 CFO bonus (pro‑rated RSUs) | Not disclosed | Board‑approved 2025 objectives | Not disclosed | Paid in RSUs if certified | RSUs delivered as fully vested for company bonus programs historically; specific 2025 CFO vest not disclosed |
| Company annual bonus design (context from 2024 program) | Revenue 66.7%; Non‑GAAP Op Loss % of Revenue 33.3% | Revenue $589M; Op Loss % −3.5% | Revenue $544M; Op Loss % −5.0% | 25% of target overall | Bonus paid in fully vested RSUs for NEOs |
Note: 2024 bonus design applies to NEOs and illustrates Fastly’s pay‑for‑performance approach; Richard Wong’s 2025 CFO bonus uses Board‑approved objectives with RSU form but detailed targets/weights were not disclosed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Inducement RSU award | $8,000,000 value, approved at hire; vests 25% on Aug 15, 2026, then 1/16 quarterly thereafter; fully vests Aug 15, 2029; continuous employment required; granted under the 2025 Employee Inducement Incentive Plan |
| Vested vs. unvested (as of Nov 2025) | No vesting occurs before Aug 15, 2026; entire inducement RSU remained unvested through Q3 2025 |
| Executive stock ownership guidelines | Other executive officers must hold 3x annual base salary within 5 years of becoming subject to the guidelines |
| Anti‑hedging policy | Hedging, margin accounts, and speculative trading prohibited for employees/directors |
| Anti‑pledging policy | Pledging prohibited absent pre‑approved exception; no pledges by executive officers other than Bergman; none disclosed for Wong |
| Insider trading plans | Q3 2025 Item 408 trading arrangements disclosure listed CEO; no 10b5‑1 adoption/termination disclosed for Wong in the quarter |
| Beneficial ownership | Not disclosed for Wong in the March 15, 2025 ownership table (pre‑hire) |
Employment Terms
| Term | Detail |
|---|---|
| Role start | Senior Advisor to CEO effective Aug 7, 2025; CFO effective Aug 11, 2025 |
| Severance/CoC | Eligible to participate in 2022 Change in Control and Severance Benefit Plan; Good Reason includes material reduction if ceases to be CFO of a publicly traded company |
| Indemnification | Will enter the standard indemnification agreement previously approved by the Board |
| Work location | Remote or San Francisco office; both considered primary place of employment |
| SOX certification | Executed Q3 2025 Section 302 certification as CFO on Nov 7, 2025 |
| Offer letter filing | Offer letter filed as Exhibit 10.1; listed in Q3 2025 10‑Q exhibits |
Investment Implications
- Retention and alignment: A sizable, five‑year time‑based inducement RSU with first vest in Aug 2026 creates strong retention incentives and limits near‑term selling pressure from vest‑related liquidity; executive ownership guidelines (3x salary) and anti‑hedging further align interests .
- Pay‑for‑performance structure: Annual bonus at 70% of base (cash or equity) and company’s use of revenue plus profitability metrics and newly added rTSR PSUs indicate a balanced performance framework; watch for 2026 bonus mix and rTSR adoption for non‑CEO executives .
- Governance signals: No disclosed 10b5‑1 plan for Wong in Q3 2025 reduces mechanical selling signals near term; minor tax gross‑up on legal fees is shareholder‑unfriendly but immaterial; the 2024 say‑on‑pay approval at 51.6% suggests ongoing investor scrutiny of executive pay .
- Execution risk and value creation: Wong’s prior CFO experience scaling SaaS businesses and operating discipline is supportive of Fastly’s margin improvement trajectory, with early tenure coinciding with record Q3 2025 Adjusted EBITDA ($25.7M) and improved non‑GAAP EPS; monitor delivery against FY25 revenue/non‑GAAP operating guidance and cadence of RSU vesting from Aug 2026 [6] .