U.S. Securities and Exchange Commission (SEC)
Official Release: https://www.sec.gov/enforcement-litigation/administrative-proceedings/34-106363-s
NEWS: The SEC's September 15, 2026 announcement says Alexander, a friend and former Okta colleague of Neller, was warned that Okta was likely to lower its guidance for calculated billings. According to the SEC's order, Alexander then sold all of his Okta shares and purchased put options. After Okta announced the guidance reduction following market close on August 31, 2022, its stock price fell 34% the next day. The SEC says Alexander sold his options and realized $170,859.52 in profits, while also avoiding $59,381.78 in losses on his shares.
The SEC's order finds that Alexander violated Section 10(b) of the Securities Exchange Act and Rule 10b-5. Without admitting the findings, he consented to a cease-and-desist order and agreed to pay $230,241.30 in disgorgement, $32,215.35 in prejudgment interest, and a $230,241.30 civil penalty. These are settled administrative charges; the SEC announcement does not describe a trial verdict.
KEY POINTS:
- The SEC announced the settled order on September 15, 2026.
- The trading concerned Okta's August 31, 2022 guidance reduction.
- The SEC says Alexander earned $170,859.52 from put options and avoided $59,381.78 in losses.
- He agreed to $230,241.30 in disgorgement, $32,215.35 in interest, and a $230,241.30 civil penalty.
- Alexander consented without admitting the SEC's findings.