Form 4: Okta Director Shellye L. Archambeau Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Director Shellye L. Archambeau sold Okta, Inc. shares on March 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Shellye L. Archambeau, a director of Okta, Inc., sold Class A Common Stock on March 14, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on December 14, 2023.
- A total of 5,000 shares were sold in multiple transactions at varying prices.
- The prices ranged from $106.16 to $109.59 per share.
- Following the reported transactions, Archambeau directly owns 6,042 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a director's stock sale under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by company directors are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on non-public information.
Stakeholder Impact
- The sale of shares by a director could be perceived negatively by some shareholders, but the existence of a 10b5-1 trading plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 12/14/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 03/14/2024 | Date of transaction (sale of shares) |
| 03/18/2024 | Date of signature on the Form 4 filing |
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