SCHEDULE: Lynrock Lake LP Appointed to Yext Board, Increases Stake

Lynrock Lake LP, a significant shareholder in Yext, Inc., has entered into a joint filing agreement to report its beneficial ownership and announced the appointment of Cynthia Paul to the company's Board of Directors.

Summary

• Lynrock Lake LP, along with its general partner Lynrock Lake Partners LLC and Cynthia Paul, have filed a Schedule 13D, superseding a previous Schedule 13G, to report their beneficial ownership of Yext, Inc. common stock.
• The Reporting Persons collectively beneficially own 19,015,087 shares of Yext, Inc. common stock, representing approximately 19.0% of the class.
• The shares were acquired by Lynrock Lake Master Fund LP between March 9, 2022, and June 15, 2026, for an aggregate purchase price of approximately $122,020,350.
• Cynthia Paul has been invited to join the Yext, Inc. Board of Directors, subject to customary governance approvals, and her appointment was formally approved by the board on July 7, 2026, to serve until the 2027 Annual Meeting of Stockholders.
• Ms. Paul currently serves as a director of Yext, Inc. and will engage in regular discussions with the board and management.
• The Reporting Persons may purchase additional shares or dispose of existing holdings based on market conditions and their evaluation of the company's prospects.
• They also intend to engage in conversations with management and the Board regarding various aspects of the company's business, strategy, and governance.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive development, reflecting increased investor engagement and board representation, but without immediate financial performance indicators.

Positives

• Appointment of Cynthia Paul to the Yext, Inc. Board of Directors, indicating increased engagement and potential for strategic input from a significant shareholder.
• Lynrock Lake LP's substantial beneficial ownership of 19.0% of Yext, Inc. common stock signifies a strong conviction in the company's value.
• The acquisition of shares over an extended period (March 2022 - June 2026) suggests a strategic, long-term investment approach.

Negatives

• The filing is a Schedule 13D, which typically indicates a more active or potentially activist stake compared to a Schedule 13G, suggesting a potential shift in the relationship between the investor and the company.

Risks

• The Reporting Persons may, in their sole discretion, purchase additional Common Stock or dispose of existing holdings, which could impact market price and liquidity.
• Future conversations with management and the Board regarding a range of issues, including strategy, management, and capital allocation, could lead to strategic shifts or disagreements.

Future Outlook

The Reporting Persons may, at their discretion, purchase additional shares or dispose of existing shares of Yext, Inc. common stock. They also intend to engage in ongoing discussions with the Issuer's management and Board of Directors regarding various strategic and operational matters.

Management Comments

• "As an institutional investor and a significant holder of the Issuer's common stock, representatives of Lynrock Lake LP, including Ms. Paul, from time to time engage in ordinary course discussions with members of the Issuer's management team and board of directors regarding topics including the Issuer's business, operations, and financial performance."
• "On July 1, 2026, during a conversation with the Issuer's general counsel, the Issuer extended an invitation to Ms. Paul to join the Issuer's Board of Directors, subject to the satisfaction of customary governance approvals. Ms. Paul accepted the invitation."
• "Ms. Paul currently serves as a director of the Issuer and therefore will engage in regular discussions with the Issuer's board of directors and management as part of her duties as a director."

Industry Context

StockSavvy.ai notes that the transition from a Schedule 13G to a Schedule 13D filing by a significant institutional investor often signals increased engagement or a more active investment strategy. The appointment of an investor representative to the board is a common development in such scenarios, aiming to align the interests of the investor with the company's strategic direction.

Management Changes

Stakeholder Impact

• Shareholders: Potential for increased strategic oversight and alignment of interests due to board representation by a major shareholder.
• Management and Board: Will engage in regular discussions with Cynthia Paul regarding company operations and strategy.
• Employees: Indirect impact through potential strategic shifts or governance changes influenced by the board appointment.

Next Steps

• Cynthia Paul will serve on the Yext, Inc. Board of Directors until the Issuer's 2027 Annual Meeting of Stockholders.
• Reporting Persons may engage in further discussions with Yext, Inc. management and Board regarding business, strategy, governance, and other matters.
• Reporting Persons may adjust their holdings of Yext, Inc. common stock based on market conditions and company prospects.

Key Dates

Recommendation

The filing indicates increased investor engagement and board representation, which can be positive. However, it does not provide new financial performance data or specific strategic initiatives that would warrant a stronger recommendation. The potential for future stock purchases or sales by the investor suggests a watchful approach is prudent.

Keywords

Yext, Inc., Schedule 13D, Lynrock Lake LP, Cynthia Paul, Board of Directors, Beneficial Ownership, Investment Management, Common Stock, SEC Filing