Yext ties CEO’s new stock option package to long-term share-price targets
YEXT•Yext’s board approved a performance-based equity package for CEO Michael Walrath, subject to stockholder approval. It includes options for up to 11 million shares, with vesting tied to stock-price targets from $21 to $88.08 and continued service as CEO.
1. Options tied to targets
The package includes options to purchase up to 11 million Yext common shares. Vesting requires the company to achieve and maintain stock-price targets ranging from $21 to $88.08, as well as Walrath’s continuous service as CEO.
2. Ten-year compensation plan
The board intends the package to be Walrath’s only new equity compensation for the next ten years. Any additional equity awards during that period would require stock-price targets above $88.08.
