Form 4: Okta Director Jacques Kerrest Executes Stock Option and Sells Shares
SEC Form 4 Filing
Director Jacques Kerrest exercised stock options and sold 3,280 shares of Okta, Inc. Class A Common Stock on July 2, 2024, according to a Form 4 filing with the SEC.
Summary
- On July 2, 2024, Jacques Kerrest, a director at Okta, Inc., exercised stock options to acquire 3,280 shares of Class A Common Stock at a price of $0.
- Simultaneously, Kerrest sold 3,280 shares of Class A Common Stock at a weighted average price of $95.6369, with individual sales ranging from $95.175 to $96.03 per share.
- Following these transactions, Kerrest directly owns 0 shares of Class A Common Stock.
- Kerrest also holds derivative securities, including employee stock options for Class B Common Stock and Restricted Stock Units (RSUs) representing the right to receive Class A Common Stock.
- Some of the RSUs are subject to vesting schedules and a Sabbatical Agreement with the issuer.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects routine insider trading activity under a pre-arranged plan. There is no indication of unusual or concerning behavior.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. These filings provide transparency into the actions of company insiders and can be scrutinized by investors for insights into management's perspective on the company's valuation and future prospects. It is common for executives to have pre arranged trading plans such as the 10b5-1 plan.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in the financial industry.
- Companies like Microsoft, Apple, and Google also have executives who regularly report their stock transactions via Form 4 filings.
- The volume and frequency of these transactions can vary based on individual circumstances and company policies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares sold.
- The filing provides transparency to stakeholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 03/06/2024 | Date of adoption of Rule 10b5-1 trading plan by the Reporting Person. |
| 07/02/2024 | Date of transaction: exercise of stock options and sale of Class A Common Stock. |
| 07/05/2024 | Date of Form 4 filing. |
| 08/27/2025 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
| 07/29/2026 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
| 03/21/2028 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
| 03/24/2029 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
| 04/14/2030 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
| 04/21/2031 | Date Employee Stock Option (Right to Buy) becomes exercisable. |
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