Yext, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Yext, Inc. on June 13, 2019, to disclose the results of the annual meeting of stockholders held on that date. The Company is incorporated in Delaware and its common stock trades on the New York Stock Exchange under the symbol "YEXT".
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting outcomes rather than financial performance.
Material Changes and Voting Results
The following matters were submitted to a vote of security holders:
- Election of Class II Director: Michael Walrath was elected to a three-year term. He received 65,675,224 votes "For", 14,111,341 votes "Withheld", and there were 17,424,926 Broker Non-Votes.
- Ratification of Independent Auditor: The appointment of Ernst & Young LLP for the fiscal year ending January 31, 2020, was ratified with 97,078,002 votes "For", 26,327 "Against", and 107,162 "Abstain".
- Executive Compensation (Say-on-Pay): The compensation of named executive officers was approved on an advisory basis with 68,242,856 votes "For", 11,431,686 "Against", 112,023 "Abstain", and 17,424,926 Broker Non-Votes.
- Frequency of Say-on-Pay Votes: Stockholders approved holding future advisory votes on executive compensation on an annual basis (One Year) with 79,620,945 votes, compared to 35,068 for Two Years and 36,828 for Three Years.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The Board of Directors determined based on the voting results that future advisory votes on executive compensation will occur annually.
Key Facts for Investor Verification
- Michael Walrath was successfully elected as a Class II director for a term expiring in 2022.
- Ernst & Young LLP was ratified as the independent registered public accounting firm.
- Stockholders approved the "Say-on-Pay" proposal and mandated an annual frequency for future votes.
- Broker non-votes were significant for the director election and compensation proposals, totaling 17,424,926 shares.