Form 4: Okta Director Kerrest Reports Stock Transactions
Insider Transaction Report
Okta Director Jacques Kerrest reported the exercise of restricted stock units and subsequent tax-related share disposition, alongside significant holdings in Class B common stock and vested stock options.
Summary
- Jacques Frederic Kerrest, a Director at Okta, Inc. (OKTA), reported transactions on September 15, 2025.
- Exercised 843 Restricted Stock Units (RSUs) into Class A Common Stock.
- Disposed of 246 shares of Class A Common Stock, likely for tax withholding purposes related to the RSU vesting.
- Following these transactions, direct beneficial ownership of Class A Common Stock stands at 3,429 shares.
- Holds 1,685 remaining direct Restricted Stock Units (RSUs) from a grant that began vesting on March 15, 2022, with remaining shares vesting quarterly, subject to continuous service and a sabbatical tolling period from November 1, 2022, to October 31, 2023.
- Holds an additional 2,487 direct Restricted Stock Units (RSUs) that vest in full on the earlier of June 24, 2026, or the date immediately prior to the Issuer's next regular annual stockholder meeting.
- Indirectly owns 1,246,431 shares of Class B Common Stock through a Trust, which are convertible into Class A Common Stock on a one-for-one basis.
- Holds several fully vested and exercisable employee stock options for Class A Common Stock, totaling 266,910 shares, with exercise prices ranging from $39.21 to $274.96 and expiration dates between March 21, 2028, and April 21, 2031.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions (RSU exercise and tax withholding) and beneficial ownership, which are neutral events in isolation and do not indicate a significant positive or negative sentiment towards the company's prospects.
Positives
- Exercise of 843 Restricted Stock Units indicates a conversion of equity awards into common stock.
- Significant beneficial ownership of Class B Common Stock (1,246,431 shares) convertible to Class A, demonstrating substantial long-term stake in the company.
- Holds a substantial number of fully vested and exercisable employee stock options (266,910 shares), providing future flexibility.
Negatives
- Disposition of 246 shares of Class A Common Stock for tax withholding purposes, which is a common practice upon RSU vesting and not necessarily a negative indicator.
Future Outlook
This filing does not contain forward-looking statements or guidance, as it is a report of past insider transactions.
Industry Context
This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitor analysis.
Stakeholder Impact
- Shareholders: Minimal impact, as this is a routine disclosure of insider stock transactions and holdings.
Next Steps
- Continued vesting of 1,685 Restricted Stock Units in 12 equal quarterly installments, subject to continuous service and the sabbatical agreement.
- Full vesting of 2,487 Restricted Stock Units on the earlier of June 24, 2026, or the date immediately prior to the Issuer's next regular annual stockholder meeting.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | 25% of the shares underlying certain Restricted Stock Units (RSUs) vested. |
| 11/01/2022 | Start of sabbatical agreement tolling period for RSU vesting. |
| 10/31/2023 | End of sabbatical agreement tolling period for RSU vesting. |
| 09/15/2025 | Date of reported transactions, including RSU exercise and share disposition. |
| 06/24/2026 | Full vesting date for certain Restricted Stock Units (RSUs), or earlier if the Issuer's next regular annual stockholder meeting occurs before this date. |
| 03/21/2028 | Expiration date for 114,000 employee stock options with an exercise price of $39.21. |
| 03/24/2029 | Expiration date for 71,547 employee stock options with an exercise price of $82.16. |
| 04/14/2030 | Expiration date for 41,673 employee stock options with an exercise price of $142.47. |
| 04/21/2031 | Expiration date for 13,263 and 26,527 employee stock options, both with an exercise price of $274.96. |
Keywords
Okta, OKTA, Form 4, Insider Transaction, Director, Restricted Stock Units, RSU, Stock Options, Beneficial Ownership, Class A Common Stock, Class B Common Stock
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