[Form 4] Zoom Communications, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Santiago Subotovsky, a director of Zoom Communications, Inc. (ZM), reported sales of Class A common stock executed on 09/05/2025 under a Rule 10b5-1 trading plan adopted December 19, 2024. The filing lists two reported sales: 2,209 shares sold at a weighted average price of $83.3493 and 266 shares sold at a weighted average price of $83.8567. After these transactions the filing shows beneficial ownership levels of 155,385 and 155,119 shares on the respective lines. The filing also discloses 1,470 shares held indirectly by the Subotovsky Mann Family Trust, of which the reporting person is a trustee. The Form 4 was signed by an attorney-in-fact on 09/09/2025.

Positive

• Sales were executed under a Rule 10b5-1 trading plan, which provides an affirmative defense and reduces interpretive uncertainty
• Filing discloses weighted average prices and offers to provide per-trade price details, enhancing transparency
• Indirect holdings via the Subotovsky Mann Family Trust are disclosed, clarifying beneficial ownership

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sales under a 10b5-1 plan; transaction sizes are small relative to typical company float, indicating limited immediate market impact.

The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted December 19, 2024, which provides an affirmative defense for scheduled trades. The filing details two discrete sale groups on 09/05/2025 with weighted average prices of $83.3493 and $83.8567. The disclosure of indirect holdings (1,470 shares) through a family trust clarifies beneficial ownership structure. From an investor-impact perspective this Form 4 describes routine insider liquidity rather than event-driven selling that would typically alter valuation assumptions.

Corporate Governance Expert

TL;DR: Disclosure is compliant and specific; use of a 10b5-1 plan reduces perceived signaling from the insider sale.

The filing clearly states the trades were executed under a pre-established 10b5-1 plan, which is important for governance transparency because it indicates trades were planned rather than opportunistic. The filing provides weighted average price ranges and offers to furnish detailed per-price trade breakdowns on request, meeting disclosure expectations. Indirect holdings via a family trust are identified and the Form 4 is properly signed by an attorney-in-fact, supporting procedural completeness.

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^*

Subotovsky Santiago

(Last) (First) (Middle)

C/O ZOOM COMMUNICATIONS, INC.

55 ALMADEN BLVD, #600

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		S(1)		2,209	D	$83.3493(2)	155,385	D
Class A Common Stock	09/05/2025		S(1)		266	D	$83.8567(3)	155,119	D
Class A Common Stock								1,470	I	see footnote(4)

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

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 19, 2024

2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.68 to $83.655. 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.

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.695 to $84.18. 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. Shares held directly by the Subotovsky Mann Family Trust, of which the Reporting Person is a trustee.

Remarks:

	/s/ Aparna Bawa, Attorney-in-Fact	09/09/2025
	** 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 Santiago Subotovsky report on Form 4 for ZM?

The Form 4 reports sales on 09/05/2025 of 2,209 shares at a weighted average price of $83.3493 and 266 shares at a weighted average price of $83.8567.

Were the sales by the ZM director part of a trading plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted December 19, 2024.

How many ZM shares does the filing show Subotovsky beneficially owned after the reported trades?

The filing lists beneficial ownership amounts of 155,385 and 155,119 shares on the respective report lines following the transactions.

Does Subotovsky hold any ZM shares indirectly?

Yes. The filing discloses 1,470 shares held directly by the Subotovsky Mann Family Trust, of which the reporting person is a trustee.

Who signed the Form 4 and when?

The Form 4 was signed by Aparna Bawa, Attorney-in-Fact on 09/09/2025.