Form 4: Okta's Chief Revenue Officer, Jonathan James Addison, Executes Stock Sales Under 10b5-1 Plan

Jonathan James Addison, Chief Revenue Officer of Okta, Inc., sold shares of Class A Common Stock on October 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 14, 2024, Jonathan James Addison, the Chief Revenue Officer of Okta, Inc., sold 9,250 shares of Class A Common Stock at a weighted average price of $77.5931 per share.
• He also sold 600 shares of Class A Common Stock at a weighted average price of $78.1867 per share on the same day.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on July 15, 2024.
• Following these transactions, Addison directly owns 14,601 shares of Okta's Class A Common Stock.
• Addison also holds various Restricted Stock Units (RSUs) representing the right to receive shares of Class A Common Stock, which vest over time subject to continued employment.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged trading plan, which doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Insider sales are a common occurrence in publicly traded companies and are often scrutinized by investors to gauge management's sentiment about the company's future prospects. Sales under a 10b5-1 plan are generally viewed as less informative since they are pre-arranged.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased selling pressure.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume of shares sold compared to the company's overall market capitalization.

Key Dates