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MarketScreener Homepage  >  Equities  >  Nyse  >  Yext, Inc.    YEXT

YEXT, INC.

(YEXT)
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YEXT, INC. : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)

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09/03/2020 | 05:20pm EDT
Item 2.02.  Results of Operations and Financial Condition
On September 3, 2020, Yext, Inc. (the "Company") issued a press release
announcing its financial results for the second fiscal quarter ended July 31,
2020. A copy of the Company's press release is attached hereto as Exhibit 99.1.
The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act, except as expressly
set forth by specific reference in such a filing.
Item 5.02.  Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) The Company announced certain of its executive officers would be changing
roles with the Company as follows:
On September 1, 2020, James Steele notified the Board of his intention to step
down as President and Chief Revenue Officer of the Company effective September
30, 2020. Mr. Steele will be transitioning to a new role as an advisor to the
Company effective October 1, 2020. Mr. Steele and the Company entered into an
advisory agreement with a term of one year. Pursuant to such agreement and for
his service thereunder, the Company will grant Mr. Steele 50,000 restricted
stock units under the Company's 2016 Equity Incentive Plan, which will fully
vest on September 20, 2021 subject to his continued service through such date.
Unvested options and restricted stock units granted to Mr. Steele in connection
with his employment President and Chief Revenue Officer of the Company will be
forfeited as of September 30, 2020. In addition, Mr. Steele will no longer be a
participant in the Company's Change in Control and Severance Policy effective
September 30, 2020.
Also, on September 1, 2020, Tom Dixon notified the Board of his intention to
step down as Chief Technology Officer of the Company effective September 30,
2020. Mr. Dixon will be transitioning to a new role as a Senior Technical Fellow
and reduced-time employee effective October 1, 2020. In this new role, Mr.
Dixon's compensation will consist of an annual salary of $120,000. Mr. Dixon
will remain eligible for his executive bonus for fiscal 2021 under the Company's
executive bonus plan but will no longer participate in executive bonus plan
thereafter. Equity awards previously granted to Mr. Dixon under his existing
employment agreement will continue to vest, but he will no longer be a
participant in the Company's Change in Control and Severance Policy effective
September 30, 2020.
The Company thanks Messrs. Dixon and Steele for their respective service as
employees and executive officers of the Company.
Item 8.01.  Other Events
On September 3, 2020 the Board determined that Ho Shin, General Counsel and
Corporate Secretary of the Company, and Marc Ferrentino, Chief Strategy Officer
of the Company, shall each be deemed an executive officer of the Company as
defined in Rule 3b-7 of the Exchange Act, and for purposes of disclosure under
Item 401(b) of Regulation S-K and an officer as defined in Rule 16a-1(f) of the
Exchange Act for purposes of Section 16 under the Exchange Act.

--------------------------------------------------------------------------------


Item 9.01.  Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number            Description

  10.1                      Advisor Agreement     between the Company and James Steele
  99.1                      Press release dated     September 3    , 2020
104                       Cover Page Interactive Data File (embedded within
the Inline XBRL document)




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© Edgar Online, source Glimpses


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