Form 4: Zscaler CFO Remo Canessa Sells Shares to Cover Tax Obligations

Remo Canessa, CFO of Zscaler, Inc., sold shares of common stock to cover tax withholding obligations related to vesting restricted stock units, as well as sales pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• On September 17, 2024, Remo Canessa, the CFO of Zscaler, Inc., sold 8,455 shares of common stock at a price of $171.28 per share.
• On September 18, 2024, Canessa sold 6,301 shares at a weighted average price of $169.4021, with prices ranging from $169.00 to $169.98.
• Also on September 18, 2024, Canessa sold 1,154 shares at a weighted average price of $170.0326, with prices ranging from $170.00 to $170.12.
• These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units and pursuant to a Rule 10b5-1 trading plan adopted on January 4, 2024.
• Following these transactions, Canessa directly owns 224,338 shares of Zscaler common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales by an executive, which are part of normal business operations and pre-planned.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and tax planning. The use of Rule 10b5-1 plans allows insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates