Zscaler: CPO Adam Geller exercised 25,000 shares

What happened

• Adam Geller, chief product officer, exercised options for 25,000 shares (23,958 on Oct 9, 2026 and 1,042 on Oct 12, 2026) at $205.61 per share for a cash cost of $5,140,250.
• The filing shows open-market sales of 25,000 shares (21,875 and 2,083 on Oct 9, 2026; 1,042 on Oct 12, 2026) at prices ranging from $225.00 to $235.95, generating total proceeds of $5,646,826.

Key details

• Transaction dates and prices:
  • Oct 9, 2026: exercised 23,958 shares @ $205.61 = $4,926,004; sold 21,875 shares @ $225.00 = $4,921,875; sold 2,083 shares @ $230.00 = $479,091 (price reported as weighted average; individual sale prices ranged $230.00 to $230.0014).
  • Oct 12, 2026: exercised 1,042 shares @ $205.61 = $214,246; sold 1,042 shares @ $235.95 = $245,860.
• Shares owned after the transactions: not stated in the filing.
• Footnotes from the filing:
  • The Oct 9 sale was made pursuant to a Rule 10b5-1 trading plan adopted Mar 20, 2026.
  • One sale price is reported as a weighted average for multiple transactions with prices between $230.00 and $230.0014; the filer will provide breakdown on request.
  • The options exercised were fully vested and immediately exercisable.
• Filing: filed on Oct 13, 2026 (no late-filing flag is indicated in the information provided).

Why it may matter

• The filing shows option exercises followed by open-market sales of the same shares on or immediately after the exercise dates (the exercised shares were sold rather than retained).
• For derivative transactions, the filing simply reports that options were exercised.
• A filing does not show why the insider traded or why the company acted.