Okta, Inc. 8-K

What Happened

• On January 5, 2026, Okta, Inc. announced that its board of directors approved a share repurchase program authorizing the company to purchase up to $1 billion of its Class A Common Stock, effective immediately. The announcement was disclosed in an 8-K signed by CFO Brett Tighe.

Key Details

• Authorization amount: up to $1.0 billion of Class A Common Stock.
• Timing and method: Repurchases may occur in the open market, in privately negotiated transactions, or by other means at Okta’s discretion.
• Compliance and plans: Open-market repurchases will be structured to comply with federal securities laws (including Rule 10b-18); Okta may also use Rule 10b5-1 plans.
• Program terms: No fixed expiration date, no obligation to purchase any specific amount, and the board may modify, suspend, or terminate the program at any time.

Why It Matters

• A board-approved buyback gives Okta flexibility to return capital to shareholders and manage its share count. While the filing does not specify how much or when repurchases will occur, such programs can reduce shares outstanding over time and may affect metrics like earnings per share. Investors should note the program’s discretionary nature and that funding details were not specified in the filing.