Zoom Communications (ZM) CFO logs RSU vesting, tax withholding and stock sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Zoom Communications, Inc. Chief Financial Officer Michelle Chang exercised restricted stock units and sold a portion of the resulting shares. On April 9, 2026, she converted restricted stock units into 22,217 shares of Class A Common Stock, with 8,743 shares withheld to cover tax obligations.
On April 10, 2026, she completed four open-market sales totaling 8,489 shares at reported weighted average prices of $80.3606, $81.2837, $82.7940, and $84.0013, under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, she directly holds 30,467 shares of Zoom Class A Common Stock.
Positive
- None.
Negative
- None.
Insights
CFO’s RSU vesting, tax withholding, and pre-planned stock sales look routine in scale and structure.
The filing shows CFO Michelle Chang converting restricted stock units into 22,217 shares of Class A Common Stock, with 8,743 shares withheld to satisfy tax obligations. This pattern is typical for equity-based compensation and does not represent an open-market purchase.
She then executed four open-market sales totaling 8,489 shares at weighted average prices between roughly $79.84 and $84.01, under a pre-arranged Rule 10b5-1 trading plan. Such plans are set up in advance, which generally reduces the informational value of the trade timing for investors.
After these transactions, Chang directly holds 30,467 shares of Zoom Class A Common Stock. Given the absence of remaining derivatives in the filing and the modest share count involved, this appears to be routine liquidity and compensation activity rather than a thesis-changing signal.
Insider Trade Summary 10b5-1
Net Seller: 8,489 shares ($690,331)
Net Sell
7 txns
Insider
Chang Michelle
Role
Chief Financial Officer
Sold
8,489 shs ($690K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 5,156 | $80.3606 | $414K |
| Sale | Class A Common Stock | 800 | $81.2837 | $65K |
| Sale | Class A Common Stock | 1,500 | $82.794 | $124K |
| Sale | Class A Common Stock | 1,033 | $84.0013 | $87K |
| Exercise | Restricted Stock Units | 0 | $0.00 | -- |
| Exercise | Class A Common Stock | 22,217 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 8,743 | $83.23 | $728K |
Holdings After Transaction:
Class A Common Stock — 33,800 shares (Direct);
Restricted Stock Units — 222,173 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 $79.840 to 80.810. 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 $80.980 to 81.680. 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 $82.270 to $83.115. 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 $83.415 to $84.010. 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
Open-market shares sold: 8,489 shares
Sale prices: $80.3606, $81.2837, $82.7940, $84.0013 per share
RSU conversion to shares: 22,217 shares
+3 more
6 metrics
Open-market shares sold
8,489 shares
Four sales of Class A Common Stock on April 10, 2026
Sale prices
$80.3606, $81.2837, $82.7940, $84.0013 per share
Weighted average prices for April 10, 2026 sales
RSU conversion to shares
22,217 shares
Class A Common Stock received from RSU conversion on April 9, 2026
Shares withheld for taxes
8,743 shares
Withheld to satisfy tax obligations on RSU vesting
Post-transaction holdings
30,467 shares
Direct Class A Common Stock owned after April 10, 2026 trades
RSU represents one share
1:1 ratio
Each Restricted Stock Unit equals one Class A share
Key Terms
Rule 10b5-1 trading plan, Restricted Stock Units, tax withholding obligation, weighted average price, +1 more
5 terms
Rule 10b5-1 trading plan financial
"The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"
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.
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.
tax withholding obligation financial
"Shares withheld by Issuer to satisfy the tax withholding obligation in connection with the vesting of Restricted Stock Units"
weighted average price financial
"The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions"
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 Incentive Plan)"
FAQ
What insider transactions did Zoom Communications CFO Michelle Chang report on this Form 4 for ZM?
Michelle Chang reported RSU vesting into 22,217 Zoom Class A shares, tax withholding of 8,743 shares, and open-market sales totaling 8,489 shares. These trades occurred on April 9–10, 2026 and involved only her directly held Class A Common Stock.
Were Michelle Chang’s Zoom stock sales under a Rule 10b5-1 trading plan?
Yes. The Form 4 states that the sales were effected under a Rule 10b5-1 trading plan adopted on June 13, 2025. Such pre-arranged plans schedule trades in advance, so the timing typically reflects a preset program rather than day-to-day market views.
What happened with Michelle Chang’s restricted stock units in this Zoom Form 4?
Restricted stock units converted into 22,217 Zoom Class A shares, with each unit representing one share. A portion of these shares, 8,743 in total, was withheld by the company to satisfy tax obligations tied to the vesting, a standard mechanism in equity compensation.
Does this Zoom (ZM) Form 4 show any remaining derivative or RSU positions for the CFO?
The filing records an RSU-to-share conversion of 22,217 units and shows no remaining derivative positions in the derivative summary. It focuses on that vesting event, associated tax withholding, and subsequent open-market sales from the resulting common stock holdings.