Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Okta, Inc. on January 22, 2019. The report discloses corporate governance changes effective as of the filing date.
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 the appointment of a new director and associated compensation.
Material Changes
The Board of Directors expanded its size to nine members and appointed Rebecca Saeger as a Class II director effective January 22, 2019. Ms. Saeger will serve until the 2019 annual meeting of stockholders or until her successor is elected.
Compensation and Governance Details
- Annual Cash Compensation: $30,000 for service on the Board.
- Equity Grant: Initial grant of 4,533 restricted stock units vesting annually over three years.
- Committee Assignment: The Board expects to appoint Ms. Saeger to one or more committees.
- Indemnification: Okta has entered into its standard form of indemnification agreement with Ms. Saeger.
Investor Verification Checklist
- Verify the full biographical background of Rebecca Saeger to assess board diversity and expertise.
- Review the attached press release (Exhibit 99.1) for additional context on the appointment.
- Confirm the specific committee assignments for Ms. Saeger once finalized by the Board.
- Check subsequent filings for the impact of the expanded board size on corporate governance policies.