Okta details Chief Legal Officer transition plan
Okta, Inc. reported an upcoming leadership change in its legal function.
Rhea-AI Filing Summary
Okta, Inc. reported an upcoming leadership change in its legal function. The company announced that Chief Legal Officer and Corporate Secretary Larissa Schwartz intends to leave her role effective July 31, 2026, after which she will continue as a senior advisor through January 31, 2027.
Under a transition and separation agreement dated April 21, 2026, Ms. Schwartz will remain in her current position until July 31, 2026 at her existing base salary, then serve as senior advisor at a base salary of $21,483 per month. She will continue to be eligible for benefits and equity vesting during this period and may receive a lump-sum severance equal to nine months of her current base salary, subject to a release of claims.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
CLO role end date: July 31, 2026
Senior advisor period end: January 31, 2027
Senior advisor base salary: $21,483 per month
+2 more
5 metrics
CLO role end date
July 31, 2026
Effective date Ms. Schwartz leaves Chief Legal Officer role
Senior advisor period end
January 31, 2027
Date through which Ms. Schwartz will serve as senior advisor
Senior advisor base salary
$21,483 per month
Compensation during advisor role after July 31, 2026
Severance basis
9 months base salary
Lump-sum severance equal to nine months of current base pay
Agreement date
April 21, 2026
Date of transition and separation agreement with Ms. Schwartz
Key Terms
transition and separation agreement, lump-sum severance payment, Inline XBRL, equity awards
4 terms
transition and separation agreement financial
"the Company and Ms. Schwartz have entered into a transition and separation agreement dated April 21, 2026"
A transition and separation agreement is a written contract that spells out the responsibilities, timeline and financial terms when an employee—often a senior executive—leaves a company and helps hand over their duties. It covers things like pay or severance, any short-term support to train successors, confidentiality and return of company property; investors care because these deals affect cash costs, leadership continuity and legal or operational risks during a change, much like a detailed handoff note that keeps a project running smoothly.
lump-sum severance payment financial
"Ms. Schwartz will be eligible to receive a lump-sum severance payment equal to nine months of her current base salary"
Inline XBRL technical
"Cover Page Interactive Data File-the cover page XBRL tags are embedded within the Inline XBRL document"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
equity awards financial
"Ms. Schwartz will also continue to be eligible for benefits and vest into Company equity awards in accordance with their terms"
Equity awards are payments to employees or directors made in the form of company stock or rights to buy stock later, serving as a way to share ownership rather than cash. For investors, they matter because they align staff incentives with company performance, can increase the number of shares outstanding over time (which can reduce each share’s claim on profits), and create compensation costs that affect reported earnings.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What leadership change did Okta (OKTA) disclose in this 8-K filing?
Okta disclosed that Chief Legal Officer and Corporate Secretary Larissa Schwartz intends to leave her role effective July 31, 2026. She will then continue as a senior advisor through January 31, 2027 under a transition and separation agreement.
What is the duration of Larissa Schwartz’s transition period at Okta (OKTA)?
The transition spans two phases: she stays as Chief Legal Officer through July 31, 2026, then serves as a senior advisor from August 1, 2026 through January 31, 2027, providing continuity for Okta’s legal and corporate governance functions.
How will Okta (OKTA) compensate Larissa Schwartz after she steps down as Chief Legal Officer?
After July 31, 2026, Okta will pay Ms. Schwartz a base salary of $21,483 per month while she serves as a senior advisor through January 31, 2027, in addition to continued eligibility for benefits and ongoing equity award vesting.
What severance is Larissa Schwartz eligible to receive from Okta (OKTA)?
Ms. Schwartz will be eligible for a lump-sum severance payment equal to nine months of her current base salary. This payment is conditioned on her signing and not revoking a release of claims as specified in the transition and separation agreement.
Will Larissa Schwartz continue to vest in Okta (OKTA) equity awards during the transition?
Yes. During her continued employment through January 31, 2027, Ms. Schwartz will continue to be eligible to vest into Okta equity awards according to their existing terms, supporting compensation continuity as she shifts into a senior advisor role.
Where can investors find the full terms of Okta’s agreement with Larissa Schwartz?
Okta plans to file the complete transition and separation agreement with Ms. Schwartz as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending April 30, 2026, providing full contractual details beyond the summarized terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
