Company: YEXT
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001614178-25-000046
Chunk: 40

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 40
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 of our common stock and, thereby, to align the interests of our named executive officers with those of our stockholders. Since the completion of our initial public offering, our equity awards have generally been made in the form of restricted stock units, or RSU, awards that are settled in shares of our common stock. Equity awards are generally subject to vesting over a two to five-year period based on continued employment, with awards subject to vesting in equal quarterly increments. We believe the time-based vesting requirement of our long-term equity incentive awards promotes retention by providing an incentive for our named executive officers to remain in our employment throughout the vesting period.

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The size of the equity awards that we grant to our named executive officers in connection with their hire is determined through arm’s-length negotiation, taking into account such factors as the named executive officer’s prospective role and responsibilities, the named executive officer’s expected cash compensation, the equity award’s potential incentive and retention value, survey data on the size of new-hire awards provided by similar companies to similarly-situated employees, and prevailing market conditions. On a periodic basis, most often annually, we also grant equity awards to our named executive officers as additional incentive to continue service with us or to recognize exceptional corporate and individual performance.

In fiscal 2025, the compensation committee reviewed market data and analysis of the named executive officers’ unvested equity awards in the second quarter of the fiscal year. On March 20, 2024, our compensation committee approved the grant of annual time‑based RSU awards to Messrs. Bond and Shin each covering 150,000 shares, in accordance with our historical practices. These RSU awards vest in full on June 20, 2025, subject to Mr. Bond’s or Mr. Shin’s continued service to us on such vesting date. On December 11, 2024, our compensation committee also approved the grant of time-based RSU awards to Messrs. Bond and Shin covering 234,000 and 122,000 shares, respectively, as additional retention incentives. Five-sevenths of shares subject to these RSU awards vest on June 20, 2025, one-seventh of the shares vest on September 20, 2025, and the remaining one-seventh of the shares vest on December 20, 2025, subject to Mr. Bond’s or Mr. Shin’s continued service to us on each such vesting date. The compensation committee determined that