Form 4: Zscaler's Chief Legal Officer Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Robert Schlossman, Chief Legal Officer of Zscaler, Inc., sold shares of common stock on September 30, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Schlossman, the Chief Legal Officer of Zscaler, Inc., executed sales of ZS common stock on September 30, 2024.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on September 28, 2024.
- A total of 4,947 shares were sold in multiple transactions at weighted average prices of $169.9874, $170.7931, and $172.1135.
- Following the reported transactions, Schlossman directly owns 107,241 shares of Zscaler common stock.
- His spouse indirectly owns 66 shares.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged trading plan, which is a common practice.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information. Investors often monitor insider transactions for signals about a company's prospects, but sales under a 10b5-1 plan are generally viewed as less informative.
Key Dates
| Date | Description |
|---|---|
| 09/28/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 09/30/2024 | Date of stock sale transactions |
| 10/01/2024 | Date of Form 4 filing |
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