Form 4: Okta's Chief Accounting Officer, Shibu Ninan, Executes Stock Sale Under 10b5-1 Plan

Shibu Ninan, Okta's Chief Accounting Officer, sold 4,279 shares of Class A Common Stock at $104.14 per share on March 19, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 19, 2024, Shibu Ninan, the Chief Accounting Officer of Okta, Inc., sold 4,279 shares of Class A Common Stock.
• The sale was executed at a price of $104.14 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 15, 2023.
• Following the transaction, Ninan directly owns 4,111 shares of Class A Common Stock.
• Ninan also holds 21,959 Restricted Stock Units (RSUs) that vest quarterly, and 4,446 RSUs that also vest quarterly.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates