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

Larissa Schwartz, Okta's Chief Legal Officer, sold 2,795 shares of Class A Common Stock at $92.02 per share on August 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On August 13, 2024, Larissa Schwartz, the Chief Legal Officer and Corporate Secretary of Okta, Inc., sold 2,795 shares of Class A Common Stock at a price of $92.02 per share.
• The transaction was executed under a Rule 10b5-1 trading plan adopted on April 11, 2024.
• Following the transaction, Schwartz directly owns 27,014 shares of Class A Common Stock.
• Schwartz also holds various Restricted Stock Units (RSUs) and employee stock options, which represent the right to acquire additional shares of Okta's Class A and Class B Common Stock.
• The RSUs vest in quarterly installments, contingent upon continued employment with Okta.
• Employee stock options for 14,167 Class B shares at $8.62 are fully vested as of December 16, 2025.
• Employee stock options for 9,000 Class B shares at $8.73 are fully vested as of June 01, 2026.
• Employee stock options for 5,000 Class B shares at $11.36 are fully vested as of March 05, 2027.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of an insider transaction. The sale was conducted under a pre-arranged plan, so it doesn't necessarily indicate a negative outlook on the company.

Industry Context

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

Key Dates