Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Okta, Inc. on October 2, 2019, reporting events that occurred on October 1, 2019. The filing addresses Item 5.02 regarding the appointment of a Principal Accounting Officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation and personnel changes.
Material Changes
On October 1, 2019, Christopher K. Kramer was appointed as Chief Accounting Officer, succeeding William E. Losch in that specific capacity. Mr. Losch continues to serve as Chief Financial Officer. Mr. Kramer previously served as Vice President, Controller, and Controller for the Company.
Compensation and Equity Awards
- Base Salary: $333,000 annually, effective October 1, 2019.
- Target Bonus: 30% of the new base salary under the Senior Executive Cash Incentive Bonus Plan.
- Stock Options: 3,187 shares of Class A common stock, vesting over four years (25% on October 1, 2020, remainder monthly).
- Restricted Stock Units (RSUs): 1,409 units, vesting over four years (25% on September 15, 2020, remainder quarterly).
Risks and Contingencies
The filing states there are no family relationships between Mr. Kramer and any director or executive officer, and no transactions requiring reporting under Item 404(a) of Regulation S-K. The Company entered into a standard indemnification agreement with Mr. Kramer.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer appointment (October 1, 2019).
- Confirm the specific vesting schedules for the 3,187 stock options and 1,409 RSUs granted.
- Review the total compensation package including the 30% target bonus eligibility.
- Confirm that William E. Losch remains Chief Financial Officer despite stepping down as Principal Accounting Officer.