Form 4: Okta Director Jacques Kerrest Executes Stock Transactions and Option Exercises
SEC Form 4 Filing
Okta director Jacques Kerrest engaged in multiple transactions involving Class A and Class B common stock, including acquisitions, disposals, and option exercises, on January 28, 2025.
Summary
- On January 28, 2025, Okta director Jacques Kerrest acquired 130,000 shares of Class A Common Stock at $0 and disposed of 65,000 shares at $91.50 and 65,000 shares at $94.50.
- He also acquired 13,332 shares of Class A Common Stock indirectly through a trust at $0 and disposed of 6,666 shares at $91.50 and 6,666 shares at $94.50.
- Additionally, he acquired 6,666 shares of Class A Common Stock indirectly through a trust at $0 and disposed of 3,333 shares at $91.50 and 3,333 shares at $94.50.
- Kerrest exercised an option to acquire 130,000 shares of Class B Common Stock, which are convertible to Class A Common Stock, at a price of $8.97.
- He also converted 130,000 shares of Class B Common Stock to Class A Common Stock.
- The transactions were partly executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 19, 2024.
Sentiment
Score: 5
Explanation: The document is a neutral disclosure of stock transactions by a company director. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies like Okta. It provides transparency into the transactions of company directors.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and Okta's filing is consistent with these requirements.
- The transactions are typical for directors who receive stock options and restricted stock units as part of their compensation.
- The use of a Rule 10b5-1 trading plan is a common method for insiders to manage their stock sales while avoiding accusations of insider trading.
Stakeholder Impact
- The transactions may have a minor impact on the stock price, but are unlikely to significantly affect stakeholders.
- The disclosure provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 09/19/2024 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 01/28/2025 | Date of the reported transactions, including stock acquisitions, disposals, and option exercises. |
| 01/30/2025 | Date the Form 4 was signed. |
| 03/15/2021 | Initial vesting date for some Restricted Stock Units. |
| 03/15/2022 | Initial vesting date for some Restricted Stock Units. |
| 07/29/2026 | Expiration date for some Employee Stock Options. |
| 03/21/2028 | Expiration date for some Employee Stock Options. |
| 03/24/2029 | Expiration date for some Employee Stock Options. |
| 04/14/2030 | Expiration date for some Employee Stock Options. |
| 04/21/2031 | Expiration date for some Employee Stock Options. |
| 06/20/2025 | Potential vesting date for some Restricted Stock Units. |
Keywords
Okta, insider trading, Form 4, stock options, Class A Common Stock, Class B Common Stock, Rule 10b5-1, Jacques Kerrest, equity securities, beneficial ownership
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