OKTA INC CLASS A (OKTA)

Sector: Information Technology

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2026 Annual Meeting Analysis

OKTA INC CLASS A · Meeting: June 18, 2026

Policy v1.2high confidenceView Filing ↗
For informational purposes only. This AI-generated analysis applies a published voting policy to publicly available proxy filings. It does not constitute investment advice, proxy voting advice, or a solicitation of any kind. AI analysis may be incomplete or inaccurate — always review the actual filing and make your own independent decision.

Directors FOR

2

Directors AGAINST

0

Say on Pay

FOR

Auditor

FOR

Director Elections

Election of Class III Directors

2 FOR
✓ FOR
Anthony Bates

Bates joined the board in 2024 (within the 24-month exemption window), so the TSR underperformance trigger does not apply; he brings relevant technology and enterprise leadership experience as a sitting CEO of Genesys Cloud Services, and no overboarding, attendance, or independence concerns are present.

✓ FOR
David Schellhase

Schellhase joined the board in August 2025 (well within the 24-month new-director exemption), so the TSR trigger does not apply; he serves as Lead Independent Director with deep corporate governance credentials from general counsel roles at Slack and Salesforce, and no other policy flags are triggered.

Both Class III nominees — Anthony Bates and David Schellhase — joined the board within the past 24 months and are therefore exempt from the TSR underperformance trigger under policy. Okta's 3-year price return is +15.3% (low-positive tier), and the gap versus the company-disclosed peer group median is -17.8 percentage points, which falls short of the 35-percentage-point threshold required to trigger a No vote even for longer-tenured directors. No overboarding, attendance, independence, or qualification concerns are identified for either nominee.

Say on Pay

✓ FOR

CEO

Todd McKinnon

Total Comp

$23,319,458

Prior Support

94.6%%

CEO Todd McKinnon's total compensation of $23,319,458 (fiscal 2025, as pre-extracted) is within a reasonable range for a CEO of a $14 billion enterprise software company, and the program structure is sound: roughly 60% of his equity is in performance stock awards tied to relative total shareholder return versus the Nasdaq Composite Index over one-, two-, and three-year periods, satisfying the policy requirement that the majority of pay be variable and performance-linked. The prior Say on Pay vote received 94.6% support, far above the 70% threshold that would require a negative response, and the company has responded constructively to shareholder feedback by increasing the performance-based portion of executive equity. The pay-for-performance alignment check does not trigger a No vote because Okta's variable pay is tied to meaningful, measurable metrics (revenue, non-GAAP operating income, and relative TSR), and the company delivered solid fiscal 2026 results including 12% revenue growth and positive GAAP operating income for the first time.

Auditor Ratification

✓ FOR

Auditor

Ernst & Young LLP

Tenure

13 yrs

Audit Fees

$5,310,000

Non-Audit Fees

$2,200,000

Ernst & Young has served as Okta's auditor since 2013 (approximately 13 years), well below the 25-year tenure threshold that would trigger a concern. Non-audit fees (audit-related fees of $1,582,000 plus tax fees of $611,000 plus other fees of $7,000 = $2,200,000) represent about 41% of audit fees ($5,310,000), comfortably below the 50% independence-concern threshold. EY is a Big 4 firm appropriate for a $14 billion market-cap company, and no material restatements are disclosed.

Overall Assessment

The 2026 Okta annual meeting ballot contains four proposals: election of two new Class III directors (both within the 24-month new-director exemption from the TSR trigger and otherwise unencumbered), ratification of Ernst & Young as auditor (clean on fees and tenure), an advisory Say on Pay vote (strong prior support, meaningful performance-based pay structure, and solid fiscal 2026 results support a FOR), and an amendment to the 2017 Equity Incentive Plan (governance-positive changes but outside current policy scope for a formal determination). No stockholder proposals appear on the ballot.

Filing date: May 7, 2026·Policy v1.2·high confidence

Compensation Peer Group

17 companies disclosed in 2026 proxy filing

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PANWPalo Alto Networks
PAYCPaycom Software
RNGRingCentral
TWLOTwilio
PATHUiPath
WDAYWorkday
ZMZoom Video Communications
ZSZscaler