Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K, dated June 17, 2021, details the results of Okta, Inc.'s 2021 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 114,568,150 shares present, representing 181,945,185 total votes. The voting results for the three proposals were as follows:
- Proposal 1 (Election of Directors): Stockholders elected Todd McKinnon and Michael Stankey as Class I directors.
- Todd McKinnon: 147,816,335 votes For; 14,826,376 votes Withheld.
- Michael Stankey: 145,335,863 votes For; 17,306,848 votes Withheld.
- Proposal 2 (Ratification of Auditors): Stockholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2022.
- For: 181,496,090
- Against: 274,791
- Abstain: 174,304
- Proposal 3 (Say-on-Pay): Stockholders approved the advisory non-binding vote on the compensation of Named Executive Officers.
- For: 153,629,773
- Against: 8,803,557
- Abstain: 209,381
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 vote outcomes.
Key Facts for Investor Verification
- Verify the tenure of the newly elected directors (Todd McKinnon and Michael Stankey) serving until the 2024 annual meeting.
- Confirm the appointment of Ernst & Young LLP as the auditor for the fiscal year ending January 31, 2022.
- Note the significant number of broker non-votes (19,302,474) recorded for the director election and executive compensation proposals.
- Review the definitive proxy statement filed on May 6, 2021, for detailed background on the proposals and executive compensation specifics.