Okta, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Okta, Inc. on March 1, 2023, with the earliest event reported on February 27, 2023. The filing primarily addresses the announcement of financial results for the fiscal quarter and year ended January 31, 2023, and significant changes in executive leadership.
Key Financial Metrics
The filing references a press release (Exhibit 99.1) containing financial results for the quarter and year ended January 31, 2023. However, the text of this Form 8-K does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. Investors must refer to the attached press release or the subsequent Form 10-Q for detailed financial data.
Material Changes and Executive Departures
- Departure of General Counsel: Jonathan Runyan is retiring as General Counsel and Corporate Secretary effective March 3, 2023, after over eight years with the company.
- Transition Agreement: Mr. Runyan will serve as an advisor through September 15, 2023. He will receive his annual base salary, benefits, and equity vesting at pre-resignation rates.
- Appointment of Chief Legal Officer: Larissa Schwartz, previously Senior Vice President, Deputy General Counsel, and Assistant Corporate Secretary, will succeed Mr. Runyan as Chief Legal Officer and Corporate Secretary effective March 3, 2023.
Guidance, Outlook, and Disclosures
The Company announced the posting of supplemental investor materials on its investor relations website on March 1, 2023. Okta utilizes its investor.okta.com and okta.com/blog websites to disclose material non-public information and comply with Regulation FD. The filing explicitly states that the information in this report and Exhibit 99.1 is not deemed "filed" for purposes of Section 18 of the Exchange Act unless expressly incorporated by reference.
Key Facts for Investor Verification
- Verify specific financial performance metrics (revenue, net income, cash flow) in the attached press release (Exhibit 99.1) or the upcoming Form 10-Q, as they are not detailed in this 8-K text.
- Confirm the terms of the transition agreement with Jonathan Runyan in the full agreement to be filed as an exhibit to the Form 10-Q for the quarter ending April 30, 2023.
- Monitor the Company's investor relations website for supplemental materials and material non-public disclosures as indicated under Regulation FD.