Company: YEXT
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001628280-25-055819
Chunk: 288

Company: Yext, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 288
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 conditions, stock-based compensation is recognized when it becomes probable that the underlying performance targets will be achieved. The following table summarizes the activity related to the Company’s PSUs: Number of PSUsWeighted-Average Grant Date Fair ValueBalance, January 31, 20253,495,000 $5.97 Granted 1,025,000 $7.17 Vested(391,875)$5.69 Forfeited or canceled(303,125)$6.11 Balance, October 31, 20253,825,000 $6.31 

11. Debt 

SVB Credit FacilityOn March 11, 2020, the Company entered into a credit agreement (the “Credit Agreement”) with Silicon Valley Bank (“SVB”). In January 2021, the Company amended the Credit Agreement which modified the conditions pursuant to which subsidiaries are required to become guarantors. On December 22, 2022, the Company entered into a second amendment (“Amendment No. 2”) to the Credit Agreement, dated March 11, 2020, and on July 26, 2024, the Company entered into a third amendment ("Amendment No. 3") to the Credit Agreement, collectively referred to as the Credit Facility. No significant debt issuance costs were incurred in association with Amendment No.2 and Amendment No.3. Amendment No. 2 amended the Credit Facility to, among other things (i) extend the maturity date of the Credit Facility to December 22, 2025, (ii) amend the interest rate provisions to replace LIBOR with SOFR as the interest rate benchmark, and (iii) amend the recurring revenue growth rate financial covenant.Amendment No. 3 amended the Credit Facility to, among other things (i) amend the interest rate applicable to loans under the Credit Facility, and (ii) replace the consolidated quick ratio and recurring revenue growth rate financial covenants with consolidated total leverage ratio and minimum liquidity financial covenants.The Credit Facility provides for a senior secured revolving loan facility of up to $50.0 million that matures on December 22, 2025, with the right subject to certain conditions to add an incremental revolving loan facility of up to $50.0 million in the aggregate. The revolving loan facility provides for borrowings up to the amount of the facility with sub-limits of up to (i) $30.0 million to be available for the issuance of letters of credit