Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 137

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 137
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 will vest over approximately a four-year period following the achievement of certain stock price targets. During the fiscal year ended January 31, 2024, the Company granted additional PSUs to certain executives under the Company’s 2016 Equity Incentive Plan, which vest over approximately a one-year period following the achievement of certain stock price targets. In January 2024, the Company made an additional grant to an executive in the form of 1,250,000 target PSUs under the 2016 Equity Incentive Plan. The total number of shares that will be eligible to vest ranges from 0% to 200% of the target PSUs and is based on the total shareholder return ("TSR") of the Company, relative to the TSR of companies in the S&P Software and Services Select Index over specified performance periods. These awards vest over approximately a one to two-year period. The PSUs granted by the Company contain market and service conditions, and the fair value of these awards is determined using a Monte Carlo simulation model on the date of grant. Stock-based compensation expense associated with PSUs is recognized using the accelerated attribution method and recognized over the requisite service period. The following table summarizes the activity related to the Company’s PSUs: Number of Performance-Based Restricted Stock Units Weighted-Average Grant Date Fair Value Balance as of January 31, 2024 3,555,000 $ 5.98 Granted — $ — Vested — $ — Forfeited or canceled (60,000) $ 6.47 Balance as of January 31, 2025 3,495,000 $ 5.97 As of January 31, 2025, the market conditions accompanying the PSUs were not satisfied and therefore, no shares vested. During the fiscal years ended January 31, 2025, 2024 and 2023, the Company recognized stock-based compensation expense related to PSUs of approximately $8.3 million, $4.6 million and $2.9 million, respectively. As of January 31, 2025, the total unrecognized stock-based compensation expense related to unvested PSUs was $4.9 million, which will be amortized over a weighted-average remaining period of 0.98 years. 11. Equity Preferred Stock Effective April 2017, the Company’s Board of Directors is authorized to issue up to 50,000,000 shares of preferred stock, $0.001 par value, in one or more series without stock