Zoom Communications (NASDAQ: ZM) CFO sells 8,489 shares after RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Zoom Communications Chief Financial Officer Michelle Chang reported several equity transactions in Zoom Class A Common Stock. On July 9, 2026, she acquired 22,217 shares through the vesting and conversion of Restricted Stock Units, and 8,743 shares were withheld by the issuer to satisfy tax obligations.
On July 10, 2026, Chang sold a total of 8,489 shares in open-market transactions at weighted average prices of $90.7834 and $91.315 per share, effected under a Rule 10b5-1 trading plan adopted on June 13, 2025. Each Restricted Stock Unit represents a contingent right to receive one share of Class A Common Stock, and an additional RSU award is scheduled to vest beginning October 9, 2025 in quarterly installments, subject to continuous service and potential accelerated vesting upon certain change-in-control related terminations.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary 10b5-1
Net Seller: 8,489 shares ($770,820)
Net Sell
5 txns
Insider
Chang Michelle
Role
Chief Financial Officer
Sold
8,489 shs ($771K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 8,189 | $90.7834 | $743K |
| Sale | Class A Common Stock | 300 | $91.315 | $27K |
| Exercise | Restricted Stock Units | 22,217 | $0.00 | -- |
| Exercise | Class A Common Stock | 22,217 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 8,743 | $87.40 | $764K |
Holdings After Transaction:
Class A Common Stock — 35,752 shares (Direct);
Restricted Stock Units — 199,956 shares (Direct)
Footnotes (1)
- Shares withheld by Issuer to satisfy the tax withholding obligation in connection with the vesting of Restricted Stock Units. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.245 to $91.240. 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.30 to 91.333. 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. Each Restricted Stock Unit represents a contingent right to receive one share of Issuer's Class A Common Stock. The reporting person received an award of restricted stock units, 1/4 of which will vest on October 9, 2025 and the remaining units will vest in equal quarterly installments thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2019 Equity Incentive Plan) on each such vesting date. The restricted stock units are subject to accelerated vesting in the event of a termination of employment of the Reporting Person under certain circumstances in connection with a change in control of the Issuer.
Key Figures
RSU shares vested and converted: 22,217 shares
Shares withheld for taxes: 8,743 shares
Total shares sold: 8,489 shares
+5 more
8 metrics
RSU shares vested and converted
22,217 shares
Class A Common Stock acquired via RSU conversion on July 9, 2026 (code M)
Shares withheld for taxes
8,743 shares
Shares withheld by issuer for tax obligations on July 9, 2026 (code F)
Total shares sold
8,489 shares
Aggregate Class A shares sold in open-market transactions on July 10, 2026
Weighted average sale price (larger block)
$90.7834 per share
Sale of 8,189 Class A shares on July 10, 2026 (code S)
Weighted average sale price (smaller block)
$91.3150 per share
Sale of 300 Class A shares on July 10, 2026 (code S)
Price range for larger sale block
$90.245 to $91.240 per share
Footnote describing multiple sale prices within this range for July 10, 2026 trades
RSU derivative balance
199,956 units
Total Restricted Stock Units reported after the derivative transaction on July 9, 2026
Net buy/sell shares
-8,489 shares
Net share change across buy/sell-type transactions in the transaction summary
Key Terms
Restricted Stock Units, Rule 10b5-1 trading plan, weighted average price, Continuous Service, +1 more
5 terms
Restricted Stock Units financial
"The reporting person received an award of restricted stock units, 1/4 of which will vest..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Rule 10b5-1 trading plan regulatory
"The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported in column 4 is a weighted average price. These shares were sold..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Continuous Service financial
"subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2019 Equity..."
change in control financial
"subject to accelerated vesting in the event of a termination of employment... in connection with a change in control..."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
FAQ
What insider transactions did Zoom (ZM) CFO Michelle Chang report in this Form 4?
CFO Michelle Chang reported RSU vesting into 22,217 Zoom Class A shares, with 8,743 shares withheld for taxes, and subsequent open-market sales totaling 8,489 shares over July 9–10, 2026, according to the Form 4 details.
What does the tax-withholding transaction in Michelle Chang’s Zoom (ZM) Form 4 represent?
The Form 4 reports 8,743 shares withheld by Zoom to satisfy tax withholding obligations arising from RSU vesting. This F‑code transaction is described as payment of tax liability by delivering securities, rather than an open-market sale.
How do Michelle Chang’s Restricted Stock Units in Zoom (ZM) vest going forward?
An RSU award to Michelle Chang vests with 1/4 of the units scheduled on October 9, 2025, and the remaining units vesting in equal quarterly installments, subject to her Continuous Service and with potential acceleration upon certain change-in-control related terminations.
What does each Restricted Stock Unit represent for Zoom (ZM) in this filing?
Each Restricted Stock Unit represents a contingent right to receive one share of Zoom’s Class A Common Stock. Upon vesting and settlement, RSUs convert into an equivalent number of Class A shares, subject to applicable tax withholding.