[144] Zscaler, Inc. SEC Filing

Rhea-AI Filing Summary

Zscaler, Inc. (ZS) Form 144 notice reports a proposed sale of 4,524 shares of common stock through Morgan Stanley Smith Barney LLC with an aggregate market value of $1,269,880.11 and the issuer's outstanding shares listed as 158,300,823. The shares were acquired on 09/15/2025 on vesting of restricted stock units and payment was recorded as compensation. The filer also disclosed a prior sale by the same person of 2,957 shares on 06/17/2025 generating gross proceeds of $898,047.11. The notice includes the required representation that the seller does not possess undisclosed material adverse information about the issuer.

Positive

• Transparent disclosure of insider acquisition, proposed sale, broker, quantities, and market value
• RSU vesting and the nature of payment are clearly stated as compensation

Negative

• Insider sale activity noted with a proposed sale of 4,524 shares and a prior sale of 2,957 shares in the past three months

Insights

Securities Analyst

TL;DR: Routine insider RSU vesting followed by a disclosed proposed sale; no new operational or financial information about the company.

The filing documents a standard Rule 144 notice where restricted stock units vested on 09/15/2025 and the holder intends to sell 4,524 shares via Morgan Stanley Smith Barney LLC with an aggregate market value of $1,269,880.11. A prior sale of 2,957 shares on 06/17/2025 for $898,047.11 is also disclosed. This is a compliance-driven disclosure of insider transactions rather than a material corporate development. Investors should view this as transparency around insider liquidity rather than an indicator of company performance.

Compliance / Risk Analyst

TL;DR: Filing appears complete for Rule 144 purposes and includes the required signer representation; no compliance red flags visible in the notice.

The notice specifies acquisition as RSU vesting, lists the broker, number of shares, market value, and prior sales within three months. The seller represents no undisclosed material adverse information. Based solely on the form content, procedural disclosure requirements are satisfied and there are no explicit regulatory or legal issues shown in this document.

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 38th Floor New York NY 10004	4524	1269880.11	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			4524	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
Raj Judge 120 Holger Way San Jose CA 95134	Common Stock	06/17/2025	2957	898047.11

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 disclose?

It discloses a proposed sale of 4,524 shares of Zscaler common stock and prior sales of 2,957 shares in the past three months.

Who is the broker handling the proposed sale in the ZS Form 144?

The broker is Morgan Stanley Smith Barney LLC Executive Financial Services located at 1 New York Plaza, New York, NY.

How were the 4,524 shares acquired according to the filing?

The filing states the shares were acquired on 09/15/2025 via vesting of restricted stock units and paid as compensation.

What is the aggregate market value of the shares proposed for sale?

The aggregate market value is listed as $1,269,880.11 for the 4,524 shares.

Did the filer sell any ZS shares in the past three months?

Yes; the filer sold 2,957 shares on 06/17/2025 for gross proceeds of $898,047.11.