01—Abstract
Summary
Summary of the 8-K filed May 5, 2025. Cited figures are marked; the original filing is the authoritative source.
Zscaler, Inc. disclosed in this Form 8-K that, effective April 29, 2025, it entered into a sublease with Airbnb, Inc. dated April 24, 2025, covering up to approximately 301,000 square feet of rentable space at 4301 and 4401 Great America Parkway, Santa Clara, California.
The effectiveness of the sublease was conditioned on obtaining the landlord's consent to the sublease. The sublease term begins on September 1, 2026 and ends on April 30, 2032. Total base rent, including committed fixed expenses over the full term, is approximately $69.5 milliona.
The company will also be responsible for operating costs and other related expenses in addition to base rent. The filing states that the Item 2.03 creation of a direct financial obligation is incorporated by reference from Item 1.01. The full sublease agreement is to be filed as an exhibit to the company's Quarterly Report on Form 10-Q for the three months ended April 30, 2025.
02—Key points
Key Highlights
- Sublease agreement with Airbnb, Inc. effective April 29, 2025, dated April 24, 2025
- Covers up to approximately 301,000 square feet at 4301 and 4401 Great America Parkway, Santa Clara, California
- Sublease term runs from September 1, 2026 through April 30, 2032
- Total base rent including committed fixed expenses is approximately $69.5 million over the term
- Company is also responsible for operating costs and other related expenses in addition to base rent
- Effectiveness was conditioned on obtaining the landlord's consent to the sublease
- Full sublease to be filed as an exhibit to the Form 10-Q for the three months ended April 30, 2025
03—Questions
Frequently Asked Questions
What is the Zscaler sublease with Airbnb?
Zscaler entered into a sublease with Airbnb, Inc., dated April 24, 2025 and effective April 29, 2025, for up to approximately 301,000 square feet of rentable space at 4301 and 4401 Great America Parkway in Santa Clara, California.
When does the sublease begin and end?
The sublease term commences on September 1, 2026 and terminates on April 30, 2032.
What is the total cost of the sublease?
Total base rent, including committed fixed expenses through the full sublease term, is approximately $69.5 million. Zscaler is also responsible for operating costs and other related expenses on top of base rent.
Was the sublease subject to any conditions?
Yes. The effectiveness of the sublease was conditioned on obtaining the consent of the landlord to the sublease.
Where can investors find the full sublease terms?
The filing states that the sublease will be filed as an exhibit to Zscaler's Quarterly Report on Form 10-Q for the three months ended April 30, 2025.
04—Continue