ZM insider converts Class B to A, sells shares at ~$82–$83

Rhea-AI Filing Summary

Zoom Video Communications (ZM) insider activity: The company’s Chief Executive Officer and Director reported conversions of Class B into Class A shares and open‑market sales on 10/22/2025 and 10/23/2025. The insider converted 73,383 and 73,378 Class B shares into Class A at $0, then sold 44,783 at a weighted average price of $82.3428, 28,600 at $83.1394, 41,498 at $82.5982, and 31,880 at $83.1833. The sales were made under a Rule 10b5‑1 trading plan adopted on June 20, 2025. Shares were held indirectly via the 2018 Yuan and Zhang Revocable Trust. Following these transactions, the filing shows ongoing indirect beneficial ownership of Class B shares and separate RSU holdings.

Insights

Equity Governance Analyst

CEO executed pre-planned sales via 10b5-1 after converting Class B to A; float impact modest and holdings remain large.

The filing shows the **CEO/Director** conducted transactions on 10/22/2025 and 10/23/2025, converting **Class B** into **Class A** (73,383 and 73,378 shares) and selling the resulting Class A shares in full under a **Rule 10b5-1 plan** adopted on June 20, 2025. Reported weighted-average sale prices were $82.3428, $83.1394, $82.5982, and $83.1833.

After these transactions, the filing lists **21,472,724** derivative securities beneficially owned indirectly, reflecting remaining **Class B** that is convertible 1:1 into **Class A** with no expiration, subject to the conversion conditions described. The shares involved are held via the **2018 Yuan and Zhang Revocable Trust**.

The report also discloses unvested **RSUs**: 114,844 from an award dated July 8, 2022 (vesting quarterly over four years) and 90,518 from July 11, 2023 (vesting quarterly over three years). Items to watch: continued sales under the existing 10b5-1 plan, any future Class B-to-A conversions, and vesting events across the quarterly cadence through these award schedules.

SEC Form 4

FORM 4

UNITED 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^*

Yuan Eric S.

(Last) (First) (Middle)

C/O ZOOM COMMUNICATIONS, INC.

55 ALMADEN BOULEVARD, 6TH FLOOR

(Street)

SAN JOSE CA 95113

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zoom Communications, Inc. [ ZM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/22/2025		C		73,383	A	$0	73,383	I	See footnote(1)
Class A Common Stock	10/22/2025		S(2)		44,783	D	$82.3428(3)	28,600	I	See footnote(1)
Class A Common Stock	10/22/2025		S(2)		28,600	D	$83.1394(4)	0	I	See footnote(1)
Class A Common Stock	10/23/2025		C		73,378	A	$0	73,378	I	See footnote(1)
Class A Common Stock	10/23/2025		S(2)		41,498	D	$82.5982(5)	31,880	I	See footnote(1)
Class A Common Stock	10/23/2025		S(2)		31,880	D	$83.1833(6)	0	I	See footnote(1)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(7)	10/22/2025		C			73,383	(7)	(7)	Class A Common Stock	73,383	$0	21,546,102	I	See footnote(1)
Class B Common Stock	(7)	10/23/2025		C			73,378	(7)	(7)	Class A Common Stock	73,378	$0	21,472,724	I	See footnote(1)
Restricted Stock Units	(8)							(9)	(9)	Class A Common Stock	114,844		114,844	D
Restricted Stock Units	(8)							(10)	(10)	Class A Common Stock	90,518		90,518	D

Explanation of Responses:

1. The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025.

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $81.875 to $82.87. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.875 to $83.51. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.005 to $83.00. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.005 to $83.60. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

7. Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person except certain "Permitted Transfers" described in the Issuer's certificate of incorporation. All outstanding shares of Class B Common Stock will convert into shares of Class A Common Stock upon the earliest of (i) six months following the death or incapacity of Mr. Yuan, (ii) six months following the date that Mr. Yuan ceases providing services to the Issuer, (iii) the date specified by the holders of a majority of the shares of Class B Common Stock, and (iv) the 15-year anniversary of the closing of the Issuer's initial public offering.

8. Each Restricted Stock Unit represents a contingent right to receive one share of Issuer's Class A Common Stock.

9. The reporting person received an award of restricted stock units on July 8, 2022, which will vest in equal quarterly installments over four years.

10. The Reporting Person received an award of restricted stock units on July 11, 2023 which will vest in equal quarterly installments over three years.

Remarks:

	/s/ Aparna Bawa, Attorney-in-Fact	10/24/2025
	** Signature of Reporting Person	Date
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.

FAQ

What insider transactions did ZM’s CEO report?

Conversions of Class B into Class A shares on 10/22/2025 and 10/23/2025, followed by open‑market sales at stated weighted average prices.

How many ZM shares were converted and sold?

Converted 73,383 and 73,378 Class B shares into Class A; sold 44,783 at $82.3428, 28,600 at $83.1394, 41,498 at $82.5982, and 31,880 at $83.1833.

Were the ZM share sales under a 10b5‑1 plan?

Yes. The filing states the sales were pursuant to a Rule 10b5‑1 trading plan adopted on June 20, 2025.

What type of ownership is indicated for the ZM shares?

Indirect ownership via the 2018 Yuan and Zhang Revocable Trust, with cotrustees identified in the filing.

What do the price figures represent?

Each reported price is a weighted average; the filing notes underlying trades occurred within specified price ranges for each sale block.

Does the insider still hold ZM equity after these trades?

Yes. The filing lists ongoing indirect beneficial ownership of Class B shares and separate RSU holdings.