[144] Zscaler, Inc. SEC Filing

Rhea-AI Filing Summary

Zscaler, Inc. (ZS) Form 144 filing: the notice reports a proposed sale of 11,193 shares of common stock through Morgan Stanley Smith Barney LLC on 09/16/2025 with an aggregate market value of $3,141,851.03. The shares were acquired on 09/15/2025 upon vesting of restricted stock units and were paid as compensation. The filing lists 158,300,823 shares outstanding for the class. The filer, identified in related recent transactions as Adam Geller, sold 3,009 shares on 06/17/2025 for $913,839.62 and 3,662 shares on 06/18/2025 for $1,123,197.82. The notice includes the standard representation that the filer is not aware of undisclosed material adverse information.

Insights

Financial Analyst

TL;DR: Routine insider sale following RSU vesting; transaction size is modest relative to outstanding shares.

The filing documents a proposed sale of 11,193 shares acquired one day earlier through RSU vesting, executed via Morgan Stanley Smith Barney. The aggregate value reported is $3.14 million, and recent insider sales by the same person totaled 6,671 shares for $2.04 million in June. These transactions appear to be standard liquidity events tied to compensation vesting rather than divestitures driven by disclosed operational concerns. Given the company's reported 158.3 million shares outstanding, the amounts are immaterial to capitalization and unlikely to affect market pricing on their own.

Corporate Governance Expert

TL;DR: Filing is a routine Rule 144 disclosure; it includes the required insider attestation and recent sale history.

The Form 144 contains the customary representations, including the signer's statement regarding lack of undisclosed material information and identification of the broker and sale timing. The securities were acquired as compensation (RSU vesting) and the notice lists prior sales in June, which helps satisfy disclosure expectations for aggregated sales. From a governance and compliance perspective, the filing appears complete for a Rule 144 notice and documents the broker, sale date, and nature of acquisition as required.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	11193	3141851.03	158300823	09/16/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	09/15/2025	Vesting of Restricted Stock Units	Issuer			11193	09/15/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Adam Geller 120 Holger Way San Jose CA 95134	Common Stock	06/17/2025	3009	913839.62
Adam Geller 120 Holger Way San Jose CA 95134	Common Stock	06/18/2025	3662	1123197.82

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the ZS Form 144 filed on 09/16/2025 disclose?

The notice discloses a proposed sale of 11,193 Zscaler shares via Morgan Stanley on 09/16/2025, acquired on 09/15/2025 through RSU vesting, with aggregate value $3,141,851.03.

Who sold Zscaler (ZS) shares in the recent Form 144 and prior June transactions?

Adam Geller is named in the filing; he previously sold 3,009 shares on 06/17/2025 for $913,839.62 and 3,662 shares on 06/18/2025 for $1,123,197.82.

How many Zscaler shares are outstanding according to the Form 144?

The filing reports 158,300,823 shares outstanding for the class referenced.

How were the 11,193 ZS shares acquired?

The securities were acquired on 09/15/2025 through the vesting of Restricted Stock Units and the payment was recorded as compensation.

Does the Form 144 include any disclosure of undisclosed adverse information?

The filer represents by signing the notice that they do not know of any material adverse information about the issuer that has not been publicly disclosed.