Form 4: Zscaler CLO Sells Shares Under 10b5-1 Plan

Zscaler Chief Legal Officer Robert Schlossman has sold 122 shares of common stock, valued at $150 per share, as part of a pre-arranged trading plan.

Summary

• Robert Schlossman, Chief Legal Officer at Zscaler, Inc., reported a transaction involving the sale of 122 shares of common stock.
• The sale occurred on July 6, 2026, with each share sold at a price of $150.
• The total value of the transaction amounts to $18,300.
• Following this transaction, Schlossman directly beneficially owns 69,244 shares of common stock.
• An additional 66 shares are held indirectly by the reporting person's spouse.
• This transaction was executed under a Rule 10b5-1 trading plan, adopted on July 3, 2025, which is designed to comply with affirmative defense conditions for insider trading.
• The filing is an amendment to reflect this transaction.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The sale was conducted under a pre-arranged 10b5-1 plan, indicating a planned divestment rather than a reaction to negative company news.

Negatives

• Insider selling, even if conducted under a 10b5-1 plan, can sometimes be perceived negatively by the market.

Risks

• The Rule 10b5-1 plan indicates a pre-determined strategy for selling shares, which could be influenced by the reporting person's outlook on the stock's future performance, though the plan itself is designed to mitigate insider trading concerns.

Future Outlook

The filing itself does not contain forward-looking statements or guidance from the company. The transaction is based on a pre-established trading plan.

Industry Context

StockSavvy.ai notes that insider transactions, particularly sales under Rule 10b5-1 plans, are common in the technology sector as executives manage their personal portfolios. While these plans are designed to avoid insider trading perceptions, significant or frequent sales can still draw market attention.

Corporate Governance

Stakeholder Impact

• Shareholders: The sale of shares by a senior executive, even under a 10b5-1 plan, may lead to minor short-term market scrutiny, but the pre-planned nature mitigates significant negative impact.
• Employees: No direct impact on employees is indicated by this filing.
• Management: Demonstrates adherence to corporate governance best practices regarding stock transactions.

Next Steps

• The reporting person will continue to hold the remaining directly and indirectly beneficially owned shares.
• The Rule 10b5-1 plan may continue to be in effect for future transactions as per its terms.

Key Dates

Keywords

Zscaler, ZS, Form 4, Insider Trading, Rule 10b5-1, Stock Sale, Robert Schlossman, Chief Legal Officer, Beneficial Ownership