Okta announces $1B share repurchase program, cites undervaluation

Okta, Inc.

Board authorized up to $1 billion in Class A common stock repurchases, effective immediately.
Program funded with existing cash and cash from operations; no fixed expiration date.
Repurchases may be made in open market or private deals; may use Rule 10b5-1 plans.
Program can be modified, suspended, or terminated at board's discretion at any time.
Management states confidence in business, long-term opportunities, and view shares are undervalued.

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