Form 4: Zscaler Executive Sells Shares to Cover Tax Obligations

Zscaler, Inc. EVP of Corporate Strategy & Ventures, Raj Judge, sold 2,957 shares of common stock for tax withholding purposes related to restricted stock unit vesting.

Summary

• Raj Judge, EVP, Corporate Strategy & Ventures and a Director at Zscaler, Inc. (ZS), reported a sale of common stock.
• The transaction occurred on June 17, 2025, and involved the disposition of 2,957 shares of Zscaler common stock.
• The shares were sold at a price of $303.7021 per share.
• Following this transaction, Raj Judge beneficially owns 76,289 shares of Zscaler common stock.
• The sale was explicitly stated as non-discretionary, executed to cover tax withholding obligations associated with the vesting of restricted stock units, as mandated by Zscaler's equity incentive plans.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the reported transaction is a routine, non-discretionary sale for tax withholding purposes related to RSU vesting, rather than a discretionary trade indicating a change in insider sentiment or company performance.

Future Outlook

This document, an SEC Form 4, reports an insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The sale 'Represents the number of shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units as mandated by the Issuer's election under its equity incentive plans and does not represent a discretionary trade by the Reporting Person.'

Industry Context

This Form 4 filing is a standard disclosure required by the SEC for insiders (directors, officers, or significant shareholders) reporting changes in their beneficial ownership of company securities. Such filings provide transparency into insider trading activities. Sales for tax withholding, as in this case, are common and typically do not signal a change in management's confidence in the company, unlike discretionary sales.

Stakeholder Impact

• Shareholders: The sale is a routine, non-discretionary event for tax purposes and is unlikely to have a significant impact on shareholder perception or the company's valuation, unlike a discretionary sale which might signal a lack of confidence.

Key Dates

Keywords

Zscaler, ZS, SEC Form 4, Insider Transaction, Stock Sale, Restricted Stock Units, Tax Withholding, Corporate Strategy, Ventures