Recent Updates — OKTA

Okta, Inc. announced that Class I director Emilie Choi resigned from the Board of Directors effective September 14, 2026, citing no disagreement with company operations. The Board appointed Helen Riley as an independent Class I director and Audit Committee member, effective September 18, 2026, to serve until the 2027 Annual Meeting. Ms. Riley, currently CFO and COO at X (The Moonshot Factory), will receive standard non-employee director compensation including $35,000 annually for board service, $13,000 for the Audit Committee, and an initial grant of 2,907 restricted stock units vesting over three years. Okta operates in the cybersecurity industry, providing identity and access management solutions.

Okta, Inc. reported financial results for the second quarter ended July 31, 2026, with total revenue increasing 11% year-over-year to $805 million and subscription revenue rising 12% to $793 million. GAAP operating income improved significantly to $107 million from $41 million in the prior year period, while non-GAAP diluted net income per share reached $1.05 compared to $0.91 previously. The company settled its remaining convertible senior notes for $350 million and reported free cash flow of $227 million. Okta provided Q3 fiscal 2027 revenue guidance of $813 million to $817 million, representing 10% year-over-year growth, and raised full-year non-GAAP diluted net income per share expectations to a range of $3.90 to $3.94. Okta operates in the cybersecurity industry as an identity management provider.

On June 18, 2026, stockholders approved an amendment to the 2017 Equity Incentive Plan. The amendment removes the plan's termination date, eliminates the "evergreen" provision for automatic annual share increases, and removes liberal share recycling for stock options and stock appreciation rights. Additionally, stockholders elected Anthony Bates and David Schellhase as Class III directors, ratified Ernst & Young LLP as the independent auditor for the fiscal year ending January 31, 2027, and approved executive compensation on an advisory basis. Okta, Inc. provides identity and access management software for the cloud.