Preheat the oven to 400 F.
Beat egg yolk, cream cheese, sugar, almond extract, and vanilla extract until smooth.
Roll out the puff pastry, removing any fold lines from the packaging by gently rolling over them with a rolling pin.
Using a knife or pizza cutter, divide the pastry vertically in thirds by drawing guide lines not quite all the way through the dough.
Remove the bottom two corners of the dough diagonally up to the center lines.
Cut diagonal lines all the way up the dough on both sides going in to the guide lines. You can make as many or a few as you like. Remove the corners when you get to the end.
Spread the cream cheese filling over the top of the dough.
Fold the bottom tab of pastry over the cream cheese filling.
Starting at the top of the pastry, fold the diagonal pastry strips over the cream cheese, alternating sides. The strips should cross over each other in the center of the pastry.
Trim off any excess pastry that goes past the top and bottom edges of the rectangle.
Beat the egg and generously brush the puff pastry.
Sprinkle with sanding sugar.
Bake for 20 minutes or until the pastry is golden brown.