Yext (NYSE: YEXT) awards RSUs and performance-based PSUs to officer
Rhea-AI Filing Summary
Bond Darryl reported acquisition or exercise transactions in this Form 4 filing.
Yext, Inc. reported that officer Darryl Bond received equity awards in the form of restricted stock units and performance-based restricted stock units, each representing rights to common shares. The service-based RSUs covering 402,087 shares vest in equal installments from December 20, 2027 through September 20, 2031, as long as he remains with the company.
The performance-based RSUs covering 390,261 shares tie vesting to Yext’s average stock price reaching milestones of $12, $15, $17 and $20 per share, with earned portions vesting on quarterly dates. A separate tranche becomes eligible based on average stock prices of $9, $11, $13 and $15, vesting in sixteenth increments on Quarterly Vesting Dates after September 20, 2027, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 402,087 | $0.00 | -- |
| Grant/Award | Performance-Based Restricted Stock Unit | 390,261 | $0.00 | -- |
| Grant/Award | Performance-Based Restricted Stock Unit | 390,261 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of common stock of Yext, Inc. (the "Company"). One-sixteenth of shares subject to the award shall vest on December 20, 2027, and quarterly thereafter on each March 20, June 20, September 20, and December 20 (each, a "Quarterly Vesting Date"), subject to the reporting person's continued service on each such date, until the award is fully vested on September 20, 2031. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of the Company's common stock. 25% of the shares subject to the PSUs will be eligible to vest following the award's grant date based on the Company's average stock price trading at each of the following milestones: $12, $15, $17 and $20 per share. Once a price threshold is achieved, the portion of the award related to that threshold will vest on the next Quarterly Vesting Date, subject to the reporting person's continued service on such date. 25% of the shares subject to the PSUs will be eligible to vest following the award's grant date based on the Company's average stock price trading at each of the following milestones: $9, $11, $13 and $15 per share. Once a price threshold is achieved, the portion of the award related to that threshold will vest as to 1/16 quarterly on each Quarterly Vesting Date following September 20, 2027, subject to the reporting person's continued service on each such date.