Okta, Inc 8-K, filed Jan 28, 2022
Okta, Inc. (OKTA)
About this 8-K
Okta, Inc filed this 8-K on January 28, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Chief Financial Officer Appointment
On January 28, 2022, Okta, Inc. (the “Company”) announced that Brett Tighe, age 42, who had been serving as the Company’s Chief Financial Officer on an interim basis since June 1, 2021, was appointed as the Company’s permanent Chief Financial Officer effective January 28, 2022. Prior to his current role, Mr. Tighe served as the Company’s Senior Vice President of Finance and Treasurer since May 2017, Vice President, FP&A from June 2016 to May 2017, and as head of worldwide FP&A from April 2015 to May 2016. From May 2004 to March 2015, Mr. Tighe served in various finance roles, most recently as Senior Director, Corporate Finance & Strategy, at salesforce.com, inc., a cloud-based customer relationship management company. Mr. Tighe holds a Master of Business Administration from the University of San Francisco, and a Bachelor of Arts from the University of California, Santa Barbara.
In connection with Mr. Tighe’s appointment as Chief Financial Officer, the Compensation Committee (“Compensation Committee”) of the Company’s Board of Directors will grant equity awards covering shares of Company Class A common stock valued at $18 million to Mr. Tighe in the Company’s upcoming executive officer merit cycle, that will vest, subject to Mr. Tighe’s continued employment with the Company on the applicable vesting dates as determined by the Compensation Committee. Mr. Tighe did not receive any additional compensation in connection with his appointment.
There are no arrangements or understandings between Mr. Tighe and any other persons pursuant to which he was appointed as the Chief Financial Officer of the Company. There are no family relationships between Mr. Tighe and any director, executive officer or any person nominated or chosen by the Company to become a director or executive officer. No information is required to be disclosed with respect to Mr. Tighe pursuant to Item 404(a) of Regulation S-K.
Item 9.01 - Financial Statements and Exhibits
(d) Exhibits
| Exhibit Number |
Description | |
| 99.1 | Press release dated January 28, 2022, issued by Okta, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 28th day of January, 2022.
| Okta, Inc. | ||
| By: | /s/ Jonathan T. Runyan | |
| Name: | Jonathan T. Runyan | |
| Title: | General Counsel and Corporate Secretary | |
Exhibit 99.1
Okta Appoints Brett Tighe as Chief Financial Officer
SAN FRANCISCO – January 28, 2022 – Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced that Brett Tighe, Okta’s interim Chief Financial Officer, has been appointed to the role of Chief Financial Officer, effective immediately.
“Brett has been a key member of the finance organization since joining Okta nearly seven years ago, and a great partner to me and the executive team,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “Since stepping into the interim CFO role last year, he has been instrumental in driving us towards achieving our financial and operational goals. We look forward to Brett’s continued success and leadership at Okta in the years to come.”
Before becoming interim CFO in June 2021, Tighe served as Okta’s Senior Vice President of Finance and Treasurer. Prior to joining Okta in 2015, Tighe spent nearly 11 years with growing responsibilities in the finance organization at Salesforce. He holds a Master of Business Administration from the University of San Francisco, and a Bachelor of Arts from the University of California, Santa Barbara.
“Okta is an exceptional organization with a unique opportunity to become an iconic cloud company,” said Tighe. “I am thrilled to take on this role, and look forward to continuing to execute on our strategic and established financial goals, including reaching $4 billion in revenue and a 20% free cash flow margin in fiscal 2026. The company is on a fantastic trajectory.”
As CFO, Tighe will lead Okta’s global finance organization and will be responsible for accounting, financial planning and analysis, internal audit, investor relations, tax, and treasury.
About Okta
Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 14,000 organizations, including JetBlue, Nordstrom, Siemens, Slack, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.
Investor Contact:
Dave Gennarelli
investor@okta.com
Media Contact:
Patty Tredway
press@okta.com