Yext announces executive retention rewards

Yext, Inc. (NYSE:YEXT), a leader in computer processing and data preparation services with a market capitalization of $828 million, announced on Monday that its Compensation Committee approved special retention grants for key executives.

According to InvestingPro analysis, the company's stock has gained over 30% in the past six months, though recent trading shows increased volatility. The decision, part of the company's 2016 Equity Incentive Plan, aims to retain top talent within the organization.

The grants, in the form of restricted stock units (RSUs), were awarded to the Chief Executive Officer, Darryl Bond, and the Executive Vice President & General Counsel, Ho Shin. Bond received 234,000 RSUs, while Shin was granted 122,000 RSUs. The vesting schedule for these awards is staggered, with five-sevenths of the shares set to vest on June 20, 2025.

The remaining shares will vest in two additional increments, with one-seventh vesting on September 20, 2025, and the final one-seventh on December 20, 2025. The vesting of these shares is contingent upon the executives' continued service with the company through each vesting date.

This strategic move by Yext underscores the company's commitment to maintaining stability in its leadership team as it navigates the competitive landscape of the tech industry. While the company currently shows impressive gross profit margins of 77.6%, InvestingPro data indicates analysts expect positive net income growth this year.

The equity awards are part of a broader compensatory arrangement designed to align the interests of executive officers with those of the company's shareholders.

The announcement was made in accordance with the Securities Exchange Act of 1934 and was formally filed with the SEC on Friday, December 13, 2024. The information provided in this article is based on the press release statement issued by Yext, Inc. and reflects the company's efforts to incentivize and retain its senior management team through equity-based compensation.

InvestingPro subscribers can access 8 additional key insights about Yext's financial health, including detailed analysis of its valuation metrics and growth prospects in the comprehensive Pro Research Report.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.