Form 4: Okta Chief Revenue Officer Reports Stock Transactions

Okta's Chief Revenue Officer, Jonathan James Addison, reported multiple transactions involving the acquisition and disposal of Class A Common Stock and Restricted Stock Units on December 15, 2024.

Summary

• Jonathan James Addison, Chief Revenue Officer of Okta, Inc., filed a Form 4 detailing changes in his beneficial ownership of Okta stock.
• The transactions occurred on December 15, 2024, and involved both the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs).
• The transactions included the vesting of multiple tranches of RSUs, which were then partially sold to cover tax obligations.
• The reported transactions resulted in a net change in Addison's holdings of Okta Class A Common Stock and RSUs.
• The form indicates that these transactions were made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment. It is a neutral report of stock transactions.

Industry Context

This is a routine filing for a company officer and is typical of equity compensation plans.

Comparison to Industry Standards

• The vesting schedule of the Restricted Stock Units is typical for technology companies, with vesting occurring over several years.
• The sale of shares to cover tax obligations is a common practice among executives who receive equity compensation.
• Similar filings are regularly made by executives at comparable companies such as CrowdStrike, Zscaler, and Cloudflare.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they represent a small portion of the total outstanding shares.
• The transactions are part of the executive compensation plan and do not indicate any change in the company's performance or outlook.

Key Dates

Keywords

Okta, Form 4, insider trading, stock transactions, Jonathan James Addison, Chief Revenue Officer, Class A Common Stock, Restricted Stock Units, RSU, vesting