Form 4: Okta Director Emilie Choi Reports Stock Vesting
SEC Form 4 Filing
Director Emilie Choi reports the vesting of restricted stock units in Okta, Inc.
Summary
- On August 19, 2024, Emilie Choi, a director of Okta, Inc., had 1,213 shares of Class A Common Stock vest from Restricted Stock Units (RSUs).
- Following the transaction, Choi directly owns 5,243 shares of Okta's Class A Common Stock.
- The vested RSUs represent the right to receive one share of Okta's Class A Common Stock each.
- The vesting schedule began on August 19, 2023, with 33-1/3% of the shares vesting initially, and the remaining shares vesting in two equal annual installments thereafter, contingent upon continued service with Okta.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting scheduled compensation rather than a strategic shift or performance indicator.
Positives
- The vesting of RSUs indicates that Emilie Choi continues to meet the service requirements with Okta.
- Director ownership aligns interests with shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices for board members.
Stakeholder Impact
- The vesting of shares has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 08/19/2023 | Initial vesting date of 33-1/3% of the shares underlying the RSU |
| 08/19/2024 | Date of the reported transaction where 1,213 shares vested |
| 08/21/2024 | Date of signature on the Form 4 filing |
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