Form 4: Okta CEO Todd McKinnon Reports Changes in Beneficial Ownership
SEC Form 4
Okta's CEO, Todd McKinnon, filed a Form 4 detailing transactions involving Okta's Class A and Class B Common Stock, including restricted stock units and employee stock options.
Summary
- Todd McKinnon, CEO of Okta, Inc., reported changes in his beneficial ownership of the company's securities.
- The report includes transactions related to Class A Common Stock, Restricted Stock Units (RSUs), and Employee Stock Options.
- McKinnon directly owns 39,389 shares of Class A Common Stock.
- He also holds various RSUs, including 60,423 shares vesting over time starting June 15, 2024, 6,739 shares vesting from March 15, 2022, and 84,042 shares vesting from June 15, 2023.
- McKinnon possesses vested employee stock options for a significant number of shares at various exercise prices and expiration dates.
- He indirectly owns 5,530,696 shares of Class A Common Stock and 128,247 shares of Class A Common Stock through a trust.
- Each share of Class B Common Stock is convertible into one share of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reports transactions and holdings.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock and future prospects.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's holdings and transactions in Okta stock.
- It offers insights into the CEO's alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | 25% of shares underlying one RSU grant vested. |
| 02/01/2022 | 25% of the shares subject to one option vested. |
| 06/15/2023 | 8.33% of the shares underlying one RSU grant vested. |
| 03/29/2024 | Date of the earliest transaction reported. |
| 04/02/2024 | Date of the Form 4 filing. |
| 06/15/2024 | 8.33% of the shares underlying one RSU grant shall vest. |
| 08/27/2025 | Expiration date for employee stock options at $7.17. |
| 07/29/2026 | Expiration date for employee stock options at $8.97. |
| 03/21/2028 | Expiration date for employee stock options at $39.21. |
| 03/24/2029 | Expiration date for employee stock options at $82.16. |
| 04/14/2030 | Expiration date for employee stock options at $142.47. |
| 04/21/2031 | Expiration date for employee stock options at $274.96. |
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