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  4. [Form 4] Zscaler, Inc. Insider Trading Activity

Zscaler CFO (NASDAQ: ZS) Kevin Rubin sells 503 shares in planned trade

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Zscaler, Inc. Chief Financial Officer Kevin Rubin reported selling 503 shares of common stock on July 27, 2026 in five open-market or private transactions. Reported weighted-average sale prices ranged from $144.7436 to $148.8106 per share, with underlying trade prices between $144.0500 and $149.2500. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on March 24, 2026.

Positive

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Insider RUBIN KEVIN
Role Chief Financial Officer
Sold 503 shs ($74K)
Type Security Shares Price Value
Sale Common Stock F1, F2 72 $144.7436 $10K
Sale Common Stock F1, F3 75 $145.7084 $11K
Sale Common Stock F1, F4 96 $146.7544 $14K
Sale Common Stock F1, F5 118 $147.7378 $17K
Sale Common Stock F1, F6 142 $148.8106 $21K
Holdings After Transaction: Common Stock — 41,398 shares (Direct)
Footnotes (6)
  1. F1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted on March 24, 2026.
  2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $144.0500 to $145.0400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
  3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $145.2500 to $146.2100, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
  4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $146.2500 to $147.2400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
  5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $147.2600 to $148.2200, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
  6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $148.3000 to $149.2500, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
Common shares sold 503 shares Aggregate Zscaler common stock sold by CFO Kevin Rubin on 2026-07-27
Weighted-average sale price (first tranche) $144.7436 per share Price for 72 shares of common stock sold on 2026-07-27
Weighted-average sale price (largest tranche) $148.8106 per share Price for 142 shares of common stock sold on 2026-07-27
Lowest underlying trade price $144.0500 per share Lowest price within the reported intraday trading ranges for the sales
Highest underlying trade price $149.2500 per share Highest price within the reported intraday trading ranges for the sales
Rule 10b5-1 plan adoption date March 24, 2026 Date Kevin Rubin adopted the Rule 10b5-1 trading plan governing these sales
Rule 10b5-1 trading plan regulatory
"The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted on March 24, 2026."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
open market or private transaction financial
"Sale in open market or private transaction"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider transaction did ZS CFO Kevin Rubin report in this Form 4?
CFO Kevin Rubin reported selling 503 shares of Zscaler common stock on July 27, 2026. The filing lists five separate non-derivative sales at weighted-average prices between $144.7436 and $148.8106 per share, executed as open-market or private transactions.

How many ZS shares did Kevin Rubin sell in each reported transaction?
Kevin Rubin sold Zscaler common stock in five tranches of 72, 75, 96, 118, and 142 shares, respectively. Each tranche has its own reported weighted-average sale price, all occurring on July 27, 2026, according to the Form 4 data.

Were Kevin Rubin’s ZS share sales made under a Rule 10b5-1 trading plan?
Yes. A footnote states the sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted on March 24, 2026, and the filing’s Rule 10b5-1 checkbox is marked true, indicating the transactions occurred under that trading plan.

What price ranges applied to the ZS shares sold by Kevin Rubin on July 27, 2026?
The reported weighted-average prices per share range from $144.7436 to $148.8106. Footnotes add that individual trade prices within these sales ranged from $144.0500 at the low end to $149.2500 at the high end for the day’s transactions.

Did the ZS Form 4 for Kevin Rubin report any derivative security exercises?
No derivative exercises are reported. The summarized data show 0 derivative transactions and an exerciseCount of 0. All reported activity for this Form 4 involves non-derivative Zscaler common stock sales only, with no options or other derivatives listed.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
RUBIN KEVIN
(Last)(First)(Middle)
120 HOLGER WAY
(Street)
SAN JOSE CALIFORNIA 95134
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Zscaler, Inc. [ ZS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/27/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock07/27/2026S(1)72D$144.7436(2)41,829D
Common Stock07/27/2026S(1)75D$145.7084(3)41,754D
Common Stock07/27/2026S(1)96D$146.7544(4)41,658D
Common Stock07/27/2026S(1)118D$147.7378(5)41,540D
Common Stock07/27/2026S(1)142D$148.8106(6)41,398D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted on March 24, 2026.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $144.0500 to $145.0400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $145.2500 to $146.2100, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $146.2500 to $147.2400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $147.2600 to $148.2200, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $148.3000 to $149.2500, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
Remarks:
/s/ Torrie Nute, by power of attorney07/28/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR