Form 4: Okta Director Jacques Kerrest Sells Shares Under 10b5-1 Plan

Okta director Jacques Frederic Kerrest sold Class A Common Stock in multiple transactions on March 20, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 20, 2025, Jacques Frederic Kerrest, a director at Okta, Inc., sold Class A Common Stock in a series of transactions.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 19, 2024.
• A total of 1,737 shares were sold at weighted average prices ranging from $112.3539 to $114.2609.
• Following the reported transactions, Kerrest directly owns 0 shares of Class A Common Stock.
• Kerrest also holds derivative securities, including restricted stock units and employee stock options, as well as indirect ownership through a trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by a company director. It doesn't inherently convey positive or negative sentiment, as it's simply a disclosure of transactions.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives and directors to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information. The volume of shares sold is relatively small compared to the total outstanding shares of Okta.

Comparison to Industry Standards

• Insider trading activity is a common occurrence in publicly traded companies.
• Directors and officers often have compensation packages that include stock options and restricted stock units, which they may sell over time.
• Rule 10b5-1 plans are a standard tool used to manage insider trading compliance.
• Comparable companies such as CrowdStrike, Zscaler, and Palo Alto Networks also have regular Form 4 filings related to insider transactions.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, but the transactions are relatively small and were conducted under a pre-arranged trading plan.
• The sales do not appear to have a significant impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Okta, Kerrest, insider trading, Form 4, stock sale, Rule 10b5-1, director, OKTA