Okta, Inc. 8-K

What Happened
Okta, Inc. announced on April 22, 2026 (transition agreement dated April 21, 2026) that Larissa Schwartz intends to leave her role as Chief Legal Officer and Corporate Secretary effective July 31, 2026. She will continue in her current role through that date and then serve as a senior advisor to the company through January 31, 2027.

Key Details

• Transition and separation agreement dated April 21, 2026 governs her departure and advisory period.
• Ms. Schwartz will be paid her current annual base salary through July 31, 2026, then receive $21,483 per month as a senior advisor through Jan 31, 2027.
• She will remain eligible for benefits and will continue to vest into company equity awards according to their terms during the extended employment period.
• She is eligible for a lump‑sum severance payment equal to nine months of her current base salary, subject to execution and non‑revocation of a release of claims; the agreement will be filed as an exhibit to Okta’s upcoming Form 10‑Q.

Why It Matters
This is an executive leadership change in Okta’s legal function that includes a defined transition and potential severance expense. For investors, the filing signals continuity (a planned handover and advisory period, continued equity vesting) while also disclosing potential cash or non-cash impacts (severance and ongoing payroll/benefits) that may appear in near‑term filings. The full agreement will be available in the company’s next Form 10‑Q for the quarter ending April 30, 2026.