Yandex Board of Directors decided to increase the authorized capital by placing up to 3.7 million ordinary shares by closed subscription in favor of ESOP SPV LLC, which operates the employee motivation program. Total number of outstanding shares will be calculated based on employee statements about the exercise of options. Company expects that the average annual share placement volume for the incentive program will not exceed 2% of the base level of 379 million shares at the start of the program.