Yext, Inc.: CEO Michael Walrath received 11,000,000 shares

What happened

• The filing says Michael Walrath, chief executive officer, received a grant of options covering 11,000,000 shares on Oct 11, 2026. The reported acquisition price is $7.00 per share, for a total value of $77,000,000. The transaction is reported as a derivative award.

Key details

• Transaction date: Oct 11, 2026. Transaction code: A (award/grant/acquisition); derivative instrument (option).
• Price and value: $7.00 per share; total $77,000,000.
• Shares owned after the transaction: the filing does not report shares owned after the transaction.
• Material footnotes from the filing:
  • Each option represents a right to buy one share of common stock.
  • The options are divided into 14 tranches with performance-based target prices: Tranche 1: 750,000 shares at $21.00; Tranche 2: 250,000 shares at $23.45; Tranche 3: 750,000 shares at $26.18; Tranche 4: 250,000 shares at $29.24; Tranches 5-12: 1,000,000 shares each at $32.64, $36.45, $40.70, $45.45, $50.75, $56.66, $63.27, $70.65; Tranches 13-14: 500,000 shares each at $78.88 and $88.08.
  • A target price is achieved only if (1) the average closing price meets or exceeds the target over 180 consecutive calendar days and (2) it also does so over 30 consecutive calendar days during a window starting 30 days before the end of the 180-day period and ending 3 years after.
  • Deadlines to achieve targets: Tranche 1 within 5 years of grant; Tranches 2-6 within 7 years; Tranches 7-14 within 10 years. Shares not earned by the end of the applicable performance period are forfeited.
  • Earned shares are subject to retention and release schedules: Tranches 1-8 released in 3 equal annual installments after achievement; Tranches 9-14 released in 3 equal installments every 6 months after achievement. Earned shares remain exercisable until the earlier of the fifth anniversary of the date earned and the option expiration.
  • Earned shares may be exercised before release but, if exercised, are subject to repurchase by the company at the exercise price upon certain terminations.
  • The option term is 10 years.
• Filing date: Oct 14, 2026.

Why it may matter

• This filing records a derivative grant of performance-based options; it is not a market sale or purchase of shares.
• The award vests only if specified stock-price and service conditions are met; it carries time-based release and repurchase provisions.
• A filing does not show why the insider traded or why the company acted.