Form 4: Okta's Chief Legal Officer Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Larissa Schwartz, Okta's Chief Legal Officer, sold 2,792 shares of Class A Common Stock at $99.40 per share under a pre-arranged 10b5-1 trading plan.
Summary
- Larissa Schwartz, Chief Legal Officer and Corporate Secretary of Okta, Inc., sold 2,792 shares of Class A Common Stock on July 16, 2024, at a price of $99.40 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on April 11, 2024.
- Following the transaction, Schwartz directly owns 29,809 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 sale. The sale was conducted under a pre-arranged 10b5-1 trading plan, which is a neutral event. Therefore, the sentiment is neutral.
Industry Context
Insider sales are a common occurrence, and the use of 10b5-1 trading plans allows corporate insiders to sell shares over a predetermined period, avoiding accusations of trading on non-public information. Investors often monitor these filings to gauge sentiment, but sales under 10b5-1 plans are generally viewed as less informative than discretionary sales.
Key Dates
| Date | Description |
|---|---|
| March 15, 2021 | Initial vesting date for some Restricted Stock Units. |
| June 15, 2021 | Initial vesting date for some Restricted Stock Units. |
| March 15, 2022 | Initial vesting date for some Restricted Stock Units. |
| June 15, 2022 | Initial vesting date for some Restricted Stock Units. |
| June 15, 2023 | Initial vesting date for some Restricted Stock Units. |
| June 15, 2024 | Initial vesting date for some Restricted Stock Units. |
| April 11, 2024 | Date the 10b5-1 trading plan was adopted. |
| July 16, 2024 | Date of the transaction (sale of shares). |
| July 18, 2024 | Date of the Form 4 filing. |
| December 16, 2025 | Expiration date for some employee stock options. |
| June 01, 2026 | Expiration date for some employee stock options. |
| March 05, 2027 | Expiration date for some employee stock options. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.