Leadership & Pay ·
Yext CEO Michael Walrath granted stock option for up to 11M shares contingent on price targets
YEXTYext, Inc.
The board of directors approved a nonstatutory stock option grant to Chief Executive Officer Michael Walrath, allowing him to purchase up to 11,000,000 shares at an exercise price of $7.00 per share. The award is performance-based and divided into 14 tranches, with vesting contingent on the company's stock price reaching targets ranging from $21.00 to $88.08 over periods of five to ten years. No portion vests based solely on time, and the grant requires stockholder approval within twelve months or it will be forfeited. This option serves as Walrath's sole new equity compensation for a ten-year period. Yext, Inc. operates in the technology sector, providing digital marketing and customer engagement solutions.