Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K, dated June 22, 2023, details the results of Okta, Inc.'s 2023 Annual Meeting of Stockholders. The meeting was held to vote on three proposals regarding corporate governance and executive compensation.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the outcomes of shareholder votes.
Material Changes and Voting Results
A quorum was established with 137,374,626 shares present, representing 202,826,640 votes. The results for the three proposals were as follows:
- Proposal 1 (Election of Directors): All three Class III director nominees were elected.
- Shellye Archambeau: 152,101,697 votes For; 28,316,343 votes Withheld.
- Robert L. Dixon, Jr.: 151,799,031 votes For; 28,619,009 votes Withheld.
- Benjamin Horowitz: 148,321,995 votes For; 32,096,045 votes Withheld.
- Proposal 2 (Ratification of Auditors): Stockholders ratified the appointment of Ernst & Young LLP.
- For: 202,421,346
- Against: 322,505
- Abstain: 82,789
- Proposal 3 (Say-on-Pay): Stockholders approved the advisory vote on executive compensation.
- For: 172,518,184
- Against: 7,776,119
- Abstain: 123,737
Guidance, Outlook, and Risks
The filing does not provide management commentary, financial guidance, outlook, or specific risk factors. It serves solely as a record of the shareholder meeting outcomes.
Key Facts for Investor Verification
- Verify the tenure of the newly elected Class III directors, who will serve until the 2026 annual meeting.
- Confirm the continued engagement of Ernst & Young LLP as the independent auditor for the fiscal year ending January 31, 2024.
- Note the significant number of broker non-votes (22,408,600) recorded for the director election and say-on-pay proposals.
- Review the definitive proxy statement filed on May 11, 2023, for detailed biographies of directors and executive compensation specifics.