Zscaler Executive Stock Sales
Zscaler Executives Sell Over $1 Million in Stock Under Pre-Established Trading Plans
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Key Points
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Robert Schlossman’s Rule 10b5-1 trading plan was adopted on July 3, 2025, and the filing confirmed compliance with the plan’s Rule 10b5-1(c) affirmative-defense requirements.
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Adam Geller’s Form 4 identified the transaction with the SEC code “S” for a direct-ownership sale, and his Rule 10b5-1 plan was adopted on March 20, 2026.
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Both Form 4 filings were signed on Sept. 21, 2026, by Torrie Nute under power of attorney rather than directly by the executives.
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The filings were made under Section 16(a) of the Securities Exchange Act of 1934, which requires public-company officers and directors to report changes in their beneficial ownership.
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Separately, Zscaler reported fiscal fourth-quarter 2026 revenue of $898.2 million, up 25% year over year and 2.4% above consensus, while several analysts raised or maintained bullish price targets after the results.
Zscaler's Chief Legal Officer Robert Schlossman and Chief Product Officer Adam Geller sold shares on September 21, 2026, under pre-established trading plans. Schlossman sold 5,394 shares at $200 each for $1.08 million, while Geller sold 661 shares at the same price. Both transactions were conducted under Rule 10b5-1 plans, which allow insiders to sell stock automatically according to a pre-set schedule.
The stock sales came as Zscaler reported strong fiscal fourth-quarter results, with revenue of $898.2 million, up 25% year over year and beating analyst expectations by 2.4%. Markets Financial Content reported that the company will host an Investor Day on October 6, 2026, in New York City, where leadership will present to investors.
Why Executives Use 10b5-1 Trading Plans
Rule 10b5-1 plans let company insiders sell stock on a fixed schedule without worrying about insider-trading rules. The executive sets up the plan during an allowed window, then the sales happen automatically. Both Schlossman and Geller adopted their plans months before the September 21 sale — Schlossman on July 3, 2025, and Geller on March 20, 2026.
These plans provide legal protection. Executives prove they're not trading on secret company information by locking in the sale terms long before they execute. The SEC filings confirmed both plans met all requirements under Rule 10b5-1(c).
Schlossman Reduces Holdings by Half a Percent
Schlossman, Zscaler's Chief Legal Officer, still holds 61,525 shares directly after the sale and 66 shares indirectly through his spouse. His sale of 5,394 shares represented a small trim of his total position. The $1.08 million proceeds show confidence in the company — insiders often hold far more stock than they sell.
Geller's Smaller Sale Leaves Holdings Intact
Adam Geller, Chief Product Officer, sold just 661 shares and retained 38,308 shares directly. His sale was worth approximately $132,200 at the $200 per-share price. The Form 4 filing used the SEC code "S" to identify it as a direct-ownership sale with no derivative securities involved.
Strong Q4 Results Boost Analyst Confidence
Zscaler's fiscal fourth-quarter revenue hit $898.2 million, up 25% from the year before. The result beat Wall Street's consensus estimate by $21.5 million. Several analysts raised or maintained bullish price targets on the stock following the earnings report. The company's AI-era cybersecurity platform is gaining traction with customers.
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