Zscaler Officer Files Form 144 to Sell $880K in Common Stock

Executive Summary

On September 17, 2026, Adam Geller, an Officer of Zscaler, Inc. (NASDAQ: ZS), filed a Form 144 notice disclosing the proposed sale of 4,584 shares of common stock with an aggregate estimated market value of $880,173.84 (approximately $192.01 per share). The proposed sale is executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on March 20, 2026.

Transaction Details

• Securities to be Sold: 4,584 shares of Common Stock.
• Origin of Shares: Acquired on September 15, 2026, directly from the issuer via equity compensation (2,643 shares from Performance Shares and 1,941 shares from Restricted Stock).
• Broker: Morgan Stanley Smith Barney LLC Executive Financial Services.
• Significance Relative to Outstanding: The 4,584 shares represent an immaterial portion (approximately 0.003%) of Zscaler's 163,054,698 outstanding common shares.

Past 3-Month Activity

The filer reported two prior sales within the past three months:

• September 16, 2026: 5,578 shares sold for gross proceeds of $1,075,230.90.
• June 22, 2026: 2,817 shares sold for gross proceeds of $345,364.20.

Trading Significance Assessment

The trading significance is rated Low. The proposed sale represents standard post-vesting equity monetization executed under an established Rule 10b5-1 trading plan adopted six months earlier, minimizing discretionary market-timing signals.