Company: YEXT
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001614178-25-000030
Chunk: 3

Company: Yext, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 9B
Chunk 3
---
Item 9B. Other Information

Securities Trading Plans of Directors and Executive Officers

On December 12, 2024, Michael Walrath, our Chief Executive Officer and Chairman of the Board of Directors, adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K Item 408. Mr. Walrath's trading arrangement provides for the sale of our common stock from time to time in the event certain price limits are met, of up to a total of 1,200,000 shares. The duration of the trading arrangement is until December 31, 2025, or earlier if all transactions under the trading arrangement are complete. During the three months ended January 31, 2025, no other director or officer, as defined in Rule 16a-1(f), adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K Item 408.

Revised Chief Executive Officer Compensation

On March 12, 2025, the compensation committee of our Board of Directors approved revised cash and equity compensation arrangements for Michael Walrath, our Chief Executive Officer and Chairman of the Board of Directors.  

The cash compensation arrangements consist of (i) an annual base salary of $550,000 and (ii) a target annual cash incentive compensation of 100% of Mr. Walrath’s salary. Prior to these arrangements, Mr. Walrath did not receive a cash salary from the Company.  

The equity compensation arrangements consist of (i) an award of 625,000 restricted stock units (the “RSUs”), and (ii) an award of 625,000 performance-based restricted stock units at target level of achievement (the “PSUs”) each pursuant to the Company’s 2016 Equity Incentive Plan. The grant of RSUs and PSUs are intended to supplement Mr. Walrath’s existing grants and incentivize and retain Mr. Walrath in his capacity as Chief Executive Officer. 

The RSUs will be eligible to vest as to one-eighth on June 20, 2025, and quarterly thereafter on the Company’s quarterly vesting dates, subject to Mr. Walrath’s continued service through each vesting date. 

The PSUs will be eligible to vest based upon achievement of a combination of performance as measured using a measurement in growth of our reported ARR and a “Rule of