YEXT Form 4: Evan Skorpen receives 20,790 RSUs; proceeds remitted to Lead Edge
Rhea-AI Filing Summary
Yext director Evan Skorpen received 20,790 restricted stock units (RSUs) on 09/30/2025, each converting to one share of common stock upon vesting. After the grant, the reporting person is shown as having beneficial ownership of 159,575 shares, which includes 6,541 restricted shares vesting 03/20/2026 and 27,131 restricted shares vesting 06/11/2026. The RSU award vests in annual installments with one-third having vested on 09/30/2023 and the remainder fully vesting on 09/30/2025, subject to continued service. The reporting person is a director and a partner at Lead Edge Capital and states an obligation to remit proceeds from any sale of shares issued on vesting to Lead Edge Capital, disclaiming beneficial ownership except to the extent of any pecuniary interest.
Positive
- Director alignment via equity: Grant of 20,790 RSUs ties the director’s compensation to company performance through vesting into common stock.
Negative
- Limited claimed beneficial ownership: Reporting person disclaims beneficial ownership due to obligation to remit proceeds to Lead Edge Capital, reducing asserted insider economic control.
Insights
TL;DR: Director received 20,790 RSUs, increasing reported holdings to 159,575 shares; however, a third-party proceeds remittance limits claimed beneficial ownership.
The grant of 20,790 RSUs is a routine director equity award that increases reported economic exposure to YEXT equity and aligns the director with shareholder value over the vesting period. The filing explicitly notes prior restricted stock (6,541 and 27,131 shares) and the vesting schedule that completed on 09/30/2025, clarifying the timing of equity recognition. The disclosure that proceeds must be remitted to Lead Edge Capital and the attendant disclaimer reduce the reporting person's claimed control over these shares for Section 16 purposes, which is relevant for assessing true insider influence on trading and potential conflict of interest.
TL;DR: Equity compensation follows standard vesting cadence; the partner relationship with Lead Edge Capital creates a pecuniary but disclaimable interest.
The structure—RSUs converting one-for-one to common stock with time-based vesting—matches common governance practices for director compensation. The reporting person’s disclosure that proceeds will be remitted to Lead Edge Capital is an important governance detail: it signals the economic benefit may flow to the partner firm rather than the individual, and the reporting person formally disclaims beneficial ownership for Section 16 except for any pecuniary interest. This distinction matters for insider reporting, potential voting influence, and future Form 4 disclosures if shares are sold following vesting.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 20,790 | $0.00 | -- |
| Exercise | Common Stock | 20,790 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of Yext, Inc.'s common stock. Includes 6,541 shares of restricted stock, which vest on March 20, 2026, and 27,131 shares of restricted stock, which vest on June 11, 2026, in each case subject to Reporting Person's continued service to Issuer on such respective date. The restricted stock units were granted to the Reporting Person, a director of the Issuer. The Reporting Person is also a partner at Lead Edge Capital, and is obligated to remit the proceeds of any sale of shares of common stock issued to the Reporting Person upon vesting of the restricted stock units to Lead Edge Capital. As such, the Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, except to the extent of this pecuniary interest therein, if any. One-third of the shares subject to award shall vest on September 30, 2023, and then annually thereafter on each September 30, subject to the Reporting Person's continued service to the Company on such date until the award is fully vested on September 30, 2025.
