Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Okta, Inc. on April 21, 2026. The report discloses a significant executive departure and the terms of a transition and separation agreement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation and separation terms.
Material Changes and Executive Departure
On April 22, 2026, Okta announced that Larissa Schwartz intends to leave her role as Chief Legal Officer and Corporate Secretary effective July 31, 2026. A transition and separation agreement dated April 21, 2026, outlines the following terms:
- Transition Period: Ms. Schwartz will continue in her current role through July 31, 2026, receiving her current annual base salary.
- Advisor Role: From August 1, 2026, through January 31, 2027, she will serve as a senior advisor with a base salary of $21,483 per month.
- Benefits and Equity: During the advisory period, she remains eligible for benefits and equity vesting in accordance with award terms.
- Severance: She is eligible for a lump-sum severance payment equal to nine months of her current base salary, contingent upon the execution and non-revocation of a release of claims.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management commentary on business outlook, or new risk factors. The primary contingency noted is the requirement for Ms. Schwartz to execute a release of claims to receive the severance payment.
Investor Verification Checklist
- Verify the exact amount of Ms. Schwartz's current base salary to calculate the total severance value.
- Review the full transition and separation agreement when filed as an exhibit to the Form 10-Q for the quarter ending April 30, 2026.
- Monitor subsequent filings for the appointment of a permanent replacement for the Chief Legal Officer and Corporate Secretary roles.