Answer
$${x^2} = y$$
Work Step by Step
$$\eqalign{
& {\text{directrix }}y = - \frac{1}{4} \cr
& {\text{The directrix of a parabola of the form }}{x^2} = 4py{\text{ is }}y = - p \cr
& \underbrace {y = - \frac{1}{4}}_{y = - p},\,\,p = \frac{1}{4} \cr
& {\text{Then, the equation is:}} \cr
& {x^2} = 4\left( {\frac{1}{4}} \right)y \cr
& {x^2} = y \cr} $$