Form 4: Okta's Chief Legal Officer Sells Shares Under 10b5-1 Trading Plan

Larissa Schwartz, Okta's Chief Legal Officer, sold 2,797 shares of Class A Common Stock at $77.63 per share on October 14, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On October 14, 2024, Larissa Schwartz, the Chief Legal Officer and Corporate Secretary of Okta, Inc., sold 2,797 shares of Class A Common Stock.
• The sale was executed at a price of $77.63 per share.
• This transaction was conducted under a Rule 10b5-1 trading plan adopted on April 11, 2024.
• Following the transaction, Schwartz directly owns 24,916 shares of Okta's Class A Common Stock.
• Schwartz also holds various Restricted Stock Units (RSUs) and employee stock options that are exercisable for Class A and Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating an insider stock sale. The sale was conducted under a pre-arranged 10b5-1 trading plan, which mitigates negative sentiment. Overall, the sentiment is neutral.

Positives

• The sale was conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Industry Context

Insider sales are a common occurrence in publicly traded companies. The use of 10b5-1 trading plans allows insiders to sell shares without raising concerns about trading on non-public information.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although the use of a 10b5-1 plan helps to alleviate concerns about insider trading.

Key Dates