Okta (OKTA) CAO Ninan Shibu Exercises RSUs; Shares Withheld for Taxes

What Happened

• Ninan Shibu, Chief Accounting Officer of Okta, had restricted stock units (RSUs) convert/exercise on September 15, 2026. A total of 4,645 shares were acquired via conversion (2,196 + 484 + 836 + 1,129). To satisfy tax withholding obligations, 2,366 shares were surrendered (1,118 + 247 + 426 + 575). All transactions show $0.00 per share (typical for RSU vesting/conversion), producing a net issuance of 2,279 shares to Shibu.
• These actions are routine vesting and tax-withholding events (not an open-market purchase or discretionary sale). No cash purchase or large-value open-market sale is reported.

Key Details

• Transaction date: September 15, 2026; Form 4 filed September 17, 2026 (timely filing).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion to shares); F = payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares acquired via conversion: 4,645; shares disposed/withheld for taxes: 2,366; net new shares issued: 2,279.
• Reported price per share: $0.00 (reflects RSU conversion/vesting, not a market purchase price).
• Footnotes: F2 confirms each RSU equals one share; F3 notes 100% of one RSU award vested on Sept 15, 2026. F1 indicates 165 shares were acquired under the company’s Section 423 ESPP (included in reported totals).
• Filing appears timely (filed two days after the reported transaction date). The filing does not report total shares owned after the transactions in the provided summary.

Context

• For retail investors: this is essentially RSU vesting with standard tax-withholding (sometimes called a cashless-surrender or share withholding). That routine administrative step increases insider ownership modestly (net 2,279 shares) and does not necessarily signal a buy or sell decision.
• Derivative entries labeled as exercises/conversions simply reflect the RSUs converting into common stock; the F-code disposals reflect shares withheld to cover taxes, not an open-market sale.