secwatch.observer — SEC 8-K summary
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Issuer:     Yext, Inc. (YEXT)
CIK:        0001614178
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0001614178-24-000003
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yext grants CEO Michael Walrath 1.25M performance-based RSUs, adds severance package
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- 1,250,000 PSUs at target granted, vesting based on TSR vs S&P Software & Services Index over two periods through Mar 2025 and Mar 2026.
- PSUs can vest from 0% (TSR below 40th percentile) to 200% (at 75th percentile); linear interpolation between thresholds.
- CEO receives no cash compensation; no additional equity grants planned for fiscal 2025.
- New severance: $250k over 6 months plus $500k prorated lump sum plus COBRA up to 6 months if terminated without cause (not change of control).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614178/000161417824000003/0001614178-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614178/000161417824000003/yext-20240112.htm
  HTML page:      https://secwatch.observer/filing/0001614178-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer