Business Context and Reporting Period
This Form 8-K Current Report was filed by Yext, Inc. on July 7, 2026. The filing reports a corporate governance event involving the Board of Directors.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation.
Material Changes
- Board Composition: The Board approved an increase in the number of authorized directors from seven to eight.
- Director Election: Cynthia Paul was elected as a Class I member of the Board to fill a vacancy. Her term expires at the 2027 annual meeting of stockholders.
Management Commentary, Risks, and Unusual Items
Director Background: Ms. Paul, age 54, is the founder, Chief Investment Officer, and CEO of Lynrock Lake LP. She previously served as a portfolio manager at Soros Fund Management LLC and held board seats at Allot Ltd., ON24, Inc., and DSP Group, Inc.
Compensation Arrangements:
- Initial Grant: Ms. Paul received an initial grant of 89,058 restricted stock units (RSUs) valued at $350,000 at the time of grant. These vest in approximately equal annual installments over three years, subject to continued service.
- Annual Grant: Outside directors are eligible for an annual RSU grant valued at $175,000, provided they have served for at least six months. This vests 100% on the one-year anniversary or upon a change of control.
- Cash Retainer: Directors receive an annual cash retainer for general service and committee participation, which may be elected as equity awards.
- Expenses: The Company reimburses reasonable out-of-pocket expenses.
Risks and Contingencies: The filing states there are no arrangements or understandings regarding Ms. Paul's appointment and no material interests in transactions requiring disclosure under Item 404(a) of Regulation S-K. Ms. Paul entered into the Company's standard indemnification agreement.
Investor Verification Checklist
- Verify the total number of authorized directors is now eight.
- Confirm the vesting schedule for the initial $350,000 RSU grant awarded to Cynthia Paul.
- Review the Company's amended and restated outside director compensation policy referenced in the April 27, 2026 proxy statement.
- Check for any future filings regarding the annual $175,000 RSU grant eligibility for Ms. Paul after six months of service.