Zoom director Santiago Subotovsky sells 4,549 shares

The six October 15 sales by the Subotovsky Mann Family Trust were reported after discovery of an administrative error.

Rhea-AI Filing Summary

Zoom Communications, Inc. (ZM) director Santiago Subotovsky reported sales of 4,549 Class A shares from October 15 through October 22, 2026. Direct sales included 3,436 and 376 shares on October 21 and 20 shares on October 22. The Subotovsky Mann Family Trust sold 35, 64, 84, 280, 88 and 166 shares on October 15. All sales were made under a Rule 10b5-1 trading plan adopted January 13, 2026.

Insider Trade Summary 10b5-1

Net Seller: 4,549 shares

Net Sell 9 txns

Insider Subotovsky Santiago

Role Director

Sold 4,549 shs ($455K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F10, F13	20	$100.434	$2K
Sale	Class A Common Stock F10, F11	3,436	$100.4915	$345K
Sale	Class A Common Stock F10, F12	376	$101.1884	$38K
Sale	Class A Common Stock F1, F2, F3, F4	35	$93.6497	$3K
Sale	Class A Common Stock F1, F5, F3, F4	64	$94.597	$6K
Sale	Class A Common Stock F1, F6, F3, F4	84	$95.436	$8K
Sale	Class A Common Stock F1, F7, F3, F4	280	$96.6112	$27K
Sale	Class A Common Stock F1, F8, F3, F4	88	$97.3978	$9K
Sale	Class A Common Stock F1, F9, F3, F4	166	$98.26	$16K

Holdings After Transaction: Class A Common Stock — 0 shares (Indirect, See footnote); Class A Common Stock — 117,954 shares (Direct)

Footnotes (13)

1. F1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 13, 2026. This transaction was not reported on a timely basis due to an administrative error and is being reported on this Form 4 upon discovery of the error.
2. F2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.00 to $93.99. 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. F3. Balance reflects the transfer of 717 shares of the Issuer's Class A Common Stock from EEP III for no consideration on July 20, 2026.
4. F4. Shares held directly by the Subotovsky Mann Family Trust, of which the Reporting Person is a trustee.
5. F5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.22 to $94.90. 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. F6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $95.09 to $95.895. 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. F7. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.0375 to $96.995. 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.
8. F8. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.00 to $97.995. 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.
9. F9. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.01 to $98.535. 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.
10. F10. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 13, 2026.
11. F11. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.0075 to $100.995. 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.
12. F12. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $101.015 to $101.445. 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.
13. F13. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.20 to $100.59. 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.

Key Figures

Total shares sold: 4,549 shares Direct shares sold: 3,436 shares Direct shares sold: 376 shares +3 more

6 metrics

Total shares sold 4,549 shares Sales reported October 15 through October 22, 2026

Direct shares sold 3,436 shares October 21, 2026; weighted average price $100.4915 per share

Direct shares sold 376 shares October 21, 2026; weighted average price $101.1884 per share

Direct shares sold 20 shares October 22, 2026; weighted average price $100.4340 per share

Trust shares sold 35 shares October 15, 2026; weighted average price $93.6497 per share

Trust shares sold 64 shares October 15, 2026; weighted average price $94.5970 per share

Key Terms

Rule 10b5-1 trading plan, weighted average price, trustee

3 terms

Rule 10b5-1 trading plan regulatory

"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"

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.

trustee regulatory

"of which the Reporting Person is a trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ZM shares did Santiago Subotovsky sell?

Santiago Subotovsky reported sales of 4,549 Class A shares from October 15 through October 22, 2026. The six October 15 transactions involved 35, 64, 84, 280, 88 and 166 shares held by the Subotovsky Mann Family Trust. Direct sales included 3,436 and 376 shares on October 21 and 20 shares on October 22.

Why were Santiago Subotovsky's October 15 ZM sales reported late?

The October 15 sales were reported upon discovery of an administrative error. Those sales were made under a Rule 10b5-1 trading plan adopted January 13, 2026, and involved shares held by the Subotovsky Mann Family Trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/23/2026 - 07:00 PM EDT Accepted by SEC EDGAR 10/23/2026 - 06:59 PM EDT Learn about SEC filing dates

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 CALIFORNIA 95113

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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

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

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

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	10/15/2026		S(1)		35	D	$93.6497(2)	682(3)	I	See footnote(4)
Class A Common Stock	10/15/2026		S(1)		64	D	$94.597(5)	618(3)	I	See footnote(4)
Class A Common Stock	10/15/2026		S(1)		84	D	$95.436(6)	534(3)	I	See footnote(4)
Class A Common Stock	10/15/2026		S(1)		280	D	$96.6112(7)	254(3)	I	See footnote(4)
Class A Common Stock	10/15/2026		S(1)		88	D	$97.3978(8)	166(3)	I	See footnote(4)
Class A Common Stock	10/15/2026		S(1)		166	D	$98.26(9)	0(3)	I	See footnote(4)
Class A Common Stock	10/21/2026		S(10)		3,436	D	$100.4915(11)	118,350	D
Class A Common Stock	10/21/2026		S(10)		376	D	$101.1884(12)	117,974	D
Class A Common Stock	10/22/2026		S(10)		20	D	$100.434(13)	117,954	D

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 January 13, 2026. This transaction was not reported on a timely basis due to an administrative error and is being reported on this Form 4 upon discovery of the error.

2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.00 to $93.99. 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. Balance reflects the transfer of 717 shares of the Issuer's Class A Common Stock from EEP III for no consideration on July 20, 2026.

4. Shares held directly by the Subotovsky Mann Family Trust, of which the Reporting Person is a trustee.

5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.22 to $94.90. 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 $95.09 to $95.895. 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.0375 to $96.995. 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.

8. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.00 to $97.995. 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.

9. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.01 to $98.535. 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.

10. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 13, 2026.

11. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.0075 to $100.995. 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.

12. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $101.015 to $101.445. 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.

13. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.20 to $100.59. 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.

Remarks:

	/s/ Cheree McAlpine, Attorney-in-Fact	10/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)