Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 136

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 136
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2024, and 2023, respectively. Employee Stock Purchase Plan The Company offers an ESPP to eligible employees. The ESPP allows employees to purchase shares of common stock at a 15% discount, based on the lower of the fair market value per share at the commencement of or completion of the offering period. Offering periods commence on the first trading day on or after March 15th and September 15th of each year, and end on the first trading day, approximately six months later. In connection with the offering period which ended on March 15, 2024, 513,277 shares of common stock were purchased under the ESPP at a purchase price of $4.58 per share for total proceeds of $2.4 million. In connection with the offering period which ended on September 15, 2024, 292,160 shares of common stock were purchased under the ESPP at a purchase price of $4.58 per share for total proceeds of $1.3 million. 85

The Black-Scholes option-pricing model assumptions used to calculate the fair value of shares, estimated at commencement of the offering period, were as follows: Fiscal year ended January 31, 2025 2024 2023 Expected life (years) 0.50 0.50 0.50 Expected volatility 46.36% - 52.80% 55.12% - 76.43% 48.87% - 63.52% Dividend yield —% —% —% Risk-free rate 4.55% - 5.38% 4.73% - 5.49% 0.86% - 3.78% During the fiscal years ended January 31, 2025, 2024 and 2023, the Company recorded stock-based compensation expense associated with the ESPP of $1.4 million, $1.7 million and $1.5 million, respectively. As of January 31, 2025, total unrecognized compensation cost related to the ESPP was $0.2 million, net of estimated forfeitures, which will be amortized over a weighted-average remaining period of 0.12 years. Performance-Based Restricted Stock Units In March 2022, the Company made a grant to an executive in the form of 2,000,000 performance-based restricted stock units ("PSUs"). This grant was outside of the Company’s 2016 Equity Incentive Plan, and