[SCHEDULE 13G/A] Fastly, Inc. Amended Passive Investment Disclosure

Rhea-AI Filing Summary

Fastly, Inc. ownership update: Morgan Stanley reports beneficial ownership of 1,095,855 shares of Class A Common Stock, representing 0.7% of the class as reported in this Amendment No. 1 to Schedule 13G/A. The filing states that, as of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class.

The cover-page detail shows shared voting power of 817,107 shares and shared dispositive power of 1,095,855 shares. Signature date on the amendment is 05/11/2026.

Insights

Institutional Ownership Analyst

Morgan Stanley reports a sub-1% stake in Fastly, signaling no large-block holding.

The Amendment No. 1 to Schedule 13G/A discloses 1,095,855 shares beneficially owned, equal to 0.7% of Class A Common Stock, with shared voting power of 817,107 shares. This places MS below the 5% reporting threshold referenced in the filing.

Holder activity and strategic intent are not described; subsequent filings would show any material changes in position or voting alignment.

Securities Compliance Counsel

Filing satisfies Section 13 reporting by amending prior disclosure to reflect reduced ownership.

The schedule notes aggregation across Morgan Stanley reporting units in line with Release No. 34-39538. The amendment includes an affirmative statement that MS "has ceased to be the beneficial owner of more than five percent of the class."

Legal implications are routine: this is an ownership-status amendment rather than a transaction narrative; future amendments will be required if ownership crosses reporting thresholds.

Key Figures

Beneficial ownership: 1,095,855 shares Percent of class: 0.7% Shared voting power: 817,107 shares +2 more

5 metrics

Beneficial ownership 1,095,855 shares Class A Common Stock

Percent of class 0.7% Class A Common Stock

Shared voting power 817,107 shares Class A Common Stock

Ceased >5% status Ceased to be >5% Statement in filing

Signature date 05/11/2026 Authorized signatory date

Key Terms

beneficially owned, shared dispositive power, Schedule 13G/A, MS Reporting Units

4 terms

beneficially owned regulatory

"This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power regulatory

"Shared Dispositive Power 1,095,855.00"

Schedule 13G/A regulatory

"Amendment No. 1 to Schedule 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

MS Reporting Units other

"the "MS Reporting Units" of Morgan Stanley and its subsidiaries and affiliates"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Fastly, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

31188V100

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 31188V100

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 817,107.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,095,855.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,095,855.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

HC, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Fastly, Inc.
(b)	Address of issuer's principal executive offices: 475 BRANNAN, SUITE 300, SAN FRANCISCO, CA, 94107
Item 2.
(a)	Name of person filing: Morgan Stanley
(b)	Address or principal business office or, if none, residence: 1585 Broadway, New York, NY 10036
(c)	Citizenship: Delaware
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 31188V100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 0.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/11/2026