Yext Board Approves Long-Term Performance Equity Award For CEO
Key Highlights
- ➤Yext (YEXT) CEO package covers options for up to 11,000,000 shares
- ➤Options exercise price is $7 per share, subject to stockholder approval
- ➤Vesting requires stock prices from $21 to $88.08 and continued CEO service
- ➤Award intended as CEO’s sole new equity compensation for the next ten years
Expert Statements
Andrew Sheehan, Lead Independent Director of the Board at Yext
“Michael has repositioned Yext for a world where brands are discovered through AI answers and agents, while building a more profitable, cash-generative business. We believe he is the right person to lead Yext into the future, and this award is designed so that both our stockholders and Michael benefit from the team’s successful efforts.”
Michael Walrath, CEO of Yext
“I appreciate the Yext Board’s confidence in me. This award ties my long-term compensation entirely to delivering substantial, lasting value for our stockholders. I am excited to lead Yext in this time of industry disruption. We see a wealth of opportunity to continue to expand our AI focused product offering to serve world class marketers.”
Yext Board Approves Long-Term Performance Equity Award For CEO
Yext, Inc. (NYSE: YEXT), the enterprise marketing platform for an agentic world (“Yext” or “Company”), announced that the Board of Directors (the “Board”) has approved a new, long-term performance equity package (the “Compensation Package”) for its CEO, Michael Walrath, with vesting contingent upon the achievement of various stock price targets that would require substantial and sustained increases in the Company’s current stock price. The Compensation Package, which is subject to stockholder approval, is designed to ensure that Mr. Walrath’s compensation is aligned with long-term stockholder value, and also recognizes the importance of Mr. Walrath continuing to lead Yext into the future. The Board intends the Compensation Package to be Mr. Walrath’s sole new equity compensation for the next ten years and that any additional equity award during this period will have stock price targets that are above $88.08, the highest target in the Compensation Package.
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