ZSZscaler, Inc. · Insider ownership research

Zscaler, Inc. insiders sold $23.4M in the past 12 months. How much of their stake is that?

59% was sold under disclosed trading plans, 41% to cover taxes. The largest seller, Adam Geller (Chief Product Officer), sold $9.7M. 20% of these sales were shares from exercising options.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026

$9.7M

largest seller, Adam Geller, past 12 months

59%

of sales were under disclosed trading plans, past 12 months

7 of 14

officers and directors sold shares, past 12 months

Is this normal? Less than usual: about a third of the 5-year average. 8 insiders sold; the average is 8 a year. Year by year

Latest filing: Filed Oct 13 for a sale from Oct 9 to Oct 12. Adam Geller sold 25K shares ($5.6M) under a disclosed plan. Filing

SEC ownership filings: 44 filed in the 12 months to Oct 16, 2026; 547 on record since Mar 15, 2018 · See the evidence

What stands out

Selling rose in the last 90 days but the year remains well below the 5-year average: officers and directors sold 58K shares, against an average of 22K per 90 days earlier in the period. Most of it was Adam Geller (36K shares in the last 90 days) and Robert Schlossman (7.7K shares in the last 90 days); 76% of these sales were under disclosed plans.Adam Geller: largest recent sale, Oct 9, 2026 · Robert Schlossman: largest recent sale, Sep 21, 2026

A share of stake is shown for 0 of the 7 officers and directors who sold. 14 are left out

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Left out: Jagtar Chaudhry, Charles Giancarlo, Michael Rich, Syam Nair, Robert Schlossman, Raj Judge, Karen Blasing, Adam Geller, Scott Darling, Kevin Rubin, Andrew Brown, David Schneider, Eileen Naughton and James Beer (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Adam Geller

Chief Product Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$9.7M97% planned, 3% to cover taxes

Robert Schlossman

Chief Legal Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$4.6M74% planned, 26% to cover taxes

Kevin Rubin

Chief Financial Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$3.0M21% planned, 79% to cover taxes

Michael Rich

CRO and President of WW Sales

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$2.8MTo cover taxes

Jagtar Chaudhry

CEO & Chairman, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$1.9MTo cover taxes

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

Oct 12, 2026Adam Geller sold 1K shares ($246K) under a disclosed trading plan. 1K shares came in from vesting or option exercises the same day, so the holding rose by 0 net.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Adam Geller Chief Product Officer	1,042	$235.95	n/a	n/a	Oct 12, 2026	Oct 13, 2026

Oct 9, 2026Adam Geller sold 24K shares ($5.4M) under a disclosed trading plan. 24K shares came in from vesting or option exercises the same day, so the holding rose by 0 net.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Adam Geller Chief Product Officer	23,958	$225.43	n/a	n/a	Oct 9, 2026	Oct 13, 2026

Sep 25, 2026Kevin Rubin sold 519 shares ($102K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Kevin Rubin Chief Financial Officer	519	$197.28	n/a	n/a	Sep 25, 2026	Sep 28, 2026

Sep 21, 20262 executives sold 6.1K shares ($1.2M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Robert Schlossman Chief Legal Officer	5,394	$200.00	n/a	n/a	Sep 21, 2026	Sep 21, 2026
Adam Geller Chief Product Officer	661	$200.00	n/a	n/a	Sep 21, 2026	Sep 21, 2026

Sep 17, 20262 insiders sold 4.8K shares ($914K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Adam Geller Chief Product Officer	4,584	$192.01	n/a	n/a	Sep 17, 2026	Sep 17, 2026
James Beer Director	177	$192.01	n/a	n/a	Sep 17, 2026	Sep 17, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Outside holders, reported separately

Ajay Mangal reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Common questions

Is the Zscaler, Inc. CEO selling stock?

Yes. Jagtar Chaudhry sold 11K shares ($1.9M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are Zscaler, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 59% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 41% were to cover taxes. A trading plan schedules sales in advance.

Are any Zscaler, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold7 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Adam Geller Chief Product Officer	$9.7M 48K shares	Not confirmed share of stake is being verified. Why	97% under a disclosed plan, 3% to cover taxes
Robert Schlossman Chief Legal Officer	$4.6M 22K shares	Not confirmed share of stake is being verified. Why	74% under a disclosed plan, 26% to cover taxes
Kevin Rubin Chief Financial Officer	$3.0M 17K shares	Not confirmed share of stake is being verified. Why	21% under a disclosed plan, 79% to cover taxes
Michael Rich CRO and President of WW Sales	$2.8M 16K shares	Not confirmed share of stake is being verified. Why	To cover taxes
Jagtar Chaudhry CEO & Chairman, Director	$1.9M 11K shares	Not confirmed share of stake is being verified. Why	To cover taxes
Raj Judge EVP, Corp. Strategy & Ventures, Director	$1.2M 5.9K shares	Not confirmed share of stake is being verified. Why	To cover taxes
James Beer Director	$231K 1.2K shares	Not confirmed share of stake is being verified. Why	Disclosed plan

Outside holder, reported separately: Ajay Mangal (a 10% owner, not part of management). No open-market sales reported in the period. Latest filing

The full ownership picture0 of 14 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 16, 2025

Sold

Held Oct 16, 2026

Still held

Jagtar Chaudhry

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Jagtar Chaudhry are complete.

CEO & Chairman, Director

n/a

−11K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Jagtar Chaudhry

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jagtar Chaudhry are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Charles Giancarlo

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Charles Giancarlo are complete.

Director

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Charles Giancarlo

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Charles Giancarlo are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Michael Rich

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Rich are complete.

CRO and President of WW Sales

n/a

−16K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Michael Rich

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Rich are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
50,000	$198.03	Dec 1, 2033	$1.9M

Estimate: options held × ($235.95 − strike price), using the most recent insider trade price on Form 4 (Oct 12, 2026), not a market close.

Syam Nair

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Syam Nair are complete.

CTO

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Syam Nair

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Syam Nair are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Robert Schlossman

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Robert Schlossman are complete.

Chief Legal Officer

n/a

−22K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Robert Schlossman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Robert Schlossman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Raj Judge

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Raj Judge are complete.

EVP, Corp. Strategy & Ventures, Director

n/a

−5.9K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Raj Judge

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Raj Judge are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Karen Blasing

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Karen Blasing are complete.

Director

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Karen Blasing

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Karen Blasing are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Adam Geller

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Adam Geller are complete.

Chief Product Officer

n/a

−48K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Adam Geller

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Adam Geller are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
25,000	$205.61	Dec 5, 2034	$759K

Estimate: options held × ($235.95 − strike price), using the most recent insider trade price on Form 4 (Oct 12, 2026), not a market close.

Scott Darling

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Scott Darling are complete.

Director

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Scott Darling

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Scott Darling are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Kevin Rubin

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kevin Rubin are complete.

Chief Financial Officer

n/a

−17K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Kevin Rubin

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kevin Rubin are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
50,000	$295.03	Jun 3, 2035	$0

Estimate: options held × ($235.95 − strike price), using the most recent insider trade price on Form 4 (Oct 12, 2026), not a market close.

Andrew Brown

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Andrew Brown are complete.

Director

n/a

−5K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Andrew Brown

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Andrew Brown are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

David Schneider

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for David Schneider are complete.

Director

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for David Schneider

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for David Schneider are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Eileen Naughton

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eileen Naughton are complete.

Director

n/a

0

n/a

n/a

Vesting, gifts, unvested awards and holding lines for Eileen Naughton

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eileen Naughton are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

James Beer

!

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for James Beer are complete.

Director

n/a

−1.2K

n/a

n/a

Vesting, gifts, unvested awards and holding lines for James Beer

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Beer are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Zscaler, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$23.4M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $23.4M across 125,038 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $13.7M · 59%

41%

The lighter segment is sales with no plan disclosed in the filing ($9.6M), including tax-related sales outside a plan.

Taxes

$12.1M of sales (51.9%) cite tax obligations in their footnotes, $2.5M of them also under a plan. Example: Kevin Rubin, Sep 16, 2026

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Adam Geller Chief Product Officer	48K	$9.7M	97%	42%	Dec 16, 2025 to Oct 12, 2026
Robert Schlossman Chief Legal Officer	22K	$4.6M	74%	20%	Oct 24, 2025 to Sep 21, 2026
Kevin Rubin Chief Financial Officer	17K	$3.0M	21%	13%	Dec 16, 2025 to Sep 25, 2026
Michael Rich CRO and President of WW Sales	16K	$2.8M	0%	12%	Dec 16, 2025 to Sep 16, 2026
Jagtar Chaudhry CEO & Chairman, Director	11K	$1.9M	0%	8%	Dec 16, 2025 to Sep 16, 2026
Raj Judge EVP, Corp. Strategy & Ventures, Director	5.9K	$1.2M	0%	5%	Dec 16, 2025 to Mar 17, 2026
James Beer Director	1.2K	$231K	100%	1.0%	Jan 2, 2026 to Sep 17, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$1.0M	$1.0M	$0	$0
Nov 2025	$0	$0	$0	$0
Dec 2025	$5.3M	$2.1M	$3.2M	$0
Jan 2026	$148K	$148K	$0	$0
Feb 2026	$0	$0	$0	$0
Mar 2026	$2.4M	$581K	$1.8M	$0
Apr 2026	$0	$0	$0	$0
May 2026	$0	$0	$0	$0
Jun 2026	$2.5M	$740K	$1.7M	$0
Jul 2026	$92K	$92K	$0	$0
Aug 2026	$87K	$87K	$0	$0
Sep 2026	$6.2M	$3.3M	$2.9M	$0
Oct 2026	$5.6M	$5.6M	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about a third of the 5-year average. 8 insiders sold; the average is 8 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 16, 2026 Latest 12 months	125K	8	$23.4M
Oct 16, 2025 1 year earlier	267K	9	$72.7M
Oct 16, 2024 2 years earlier	287K	11	$56.8M
Oct 17, 2023 3 years earlier	237K	7	$34.6M
Oct 17, 2022 4 years earlier	376K	6	$81.4M
Oct 17, 2021 5 years earlier	822K	7	$182M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty14 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Zscaler, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology547 filings on record, 44 filed in the 12-month period, and how we read them

All 547 Forms 3, 4 and 5 on record for Zscaler, Inc. (SEC CIK 1713683), filed from Mar 15, 2018 to Oct 13, 2026; 44 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (9)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Remo Canessa	Mar 20, 2025	213,702 shares, last reported balance as of Mar 18, 2025
Amit Sinha	Jan 2, 2024	1,371,626 shares, last reported balance as of Dec 28, 2023
Amit Sinha	Jan 2, 2024	96,000 shares, last reported balance as of Dec 28, 2023
Dali Rajic	Dec 19, 2023	240,543 shares, last reported balance as of Dec 18, 2023
Manoj Apte	Sep 9, 2020	1,330,105 shares, last reported balance as of Sep 8, 2020
Nehal Raj	Sep 30, 2019	1,382 shares, last reported balance as of Sep 20, 2019
TPG Group Holdings (SBS) Advisors, Inc.	Mar 22, 2018	9,146,477 shares, last reported balance as of Mar 20, 2018
Lane Bess	Mar 20, 2018	2,191,792 shares, last reported balance as of Mar 20, 2018
William Welch	Mar 15, 2018	866,666 shares, last reported balance as of Mar 15, 2018

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.