Form 4: Okta's Chief Revenue Officer, Jonathan James Addison, Reports Changes in Beneficial Ownership

Jonathan James Addison, Okta's Chief Revenue Officer, filed a Form 4 detailing changes in his beneficial ownership of Okta, Inc. Class A Common Stock and Restricted Stock Units due to vesting and a transfer of shares to his ex-spouse.

Summary

• On September 15, 2024, Jonathan James Addison, the Chief Revenue Officer of Okta, Inc., reported changes in his beneficial ownership of Okta's Class A Common Stock.
• These changes involve the vesting of Restricted Stock Units (RSUs) and a transfer of 9,850 shares to his ex-spouse pursuant to a domestic relations order.
• Addison's direct ownership of Class A Common Stock after these transactions is 24,451 shares.
• He also holds derivative securities in the form of Restricted Stock Units, with varying vesting schedules.
• The vesting schedules for the RSUs are based on continued employment with Okta.
• The report indicates that Addison no longer reports as beneficially owned any securities owned by his ex-spouse.

Sentiment

Score: 5

Explanation: This is a neutral filing reflecting standard executive compensation practices and a personal legal matter. It doesn't inherently indicate positive or negative sentiment regarding the company's performance.

Future Outlook

The remaining shares underlying the RSUs will continue to vest in equal quarterly installments, subject to the Reporting Person's continuous employment with the Issuer on each such date.

Industry Context

Form 4 filings are a routine part of the US financial market, providing transparency into the transactions of company insiders. This filing indicates activity related to equity compensation and personal financial matters of a key executive.

Stakeholder Impact

• The transfer of shares to the ex-spouse may have a minor impact on the shareholder base, but is unlikely to be material.
• The vesting of RSUs continues to align the executive's interests with those of the shareholders.

Key Dates