Zoom Communications (ZM) 4: Subotovsky Santiago bought 1,345,000 shares of Class A Comm… (Jan 14, 2026)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-01-12 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Zoom Communications, Inc. (ZM) CIK: 0001585521 --- Reporting Owner --- Name: Subotovsky Santiago CIK: 0001773806 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-01-12 | Code: C (Conversion of derivative) Shares: +1,345,000 | Price: $0.00 Shares Owned After: 0 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F1] On January 12, 2026, Emergence Capital Partners III, L.P. (Emergence) converted in the aggregate 1,345,000 shares of the Issuer's Class B Common Stock into 1,345,000 shares of the Issuer's Class A Common Stock. Subsequently, on the same date, Emergence distributed in-kind, without consideration, all 1,345,000 shares of the Issuer's Class A Common Stock pro-rata to its partners in accordance with the exemptions under Rule 16a-9(a) (Rule 16a-9(a)) and Rule 16a-13 (Rule 16a-13) of the Securities Exchange Act of 1934, as amended. [F2] Represents the pro-rata distribution in kind, without consideration, of all 1,345,000 shares of the Issuer's Class A Common Stock by Emergence to its partners in accordance with the exemptions of Rule 16a-9(a) and Rule 16a-13. [F3] Shares held directly by Emergence. The sole general partner of Emergence is Emergence Equity Partners III, L.P. ("EEP III"), and the sole general partner of EEP III is Emergence GP Partners, LLC ("EGP"). The Reporting Person is a member of EEP III. The Reporting Person disclaims Section 16 beneficial ownership of the shares held by Emergence, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose. --- Derivative Transactions --- [Transaction #1] Security: Class B Common Stock Date: 2026-01-12 | Code: C (Conversion of derivative) Shares: -1,345,000 | Price: $0.00 Shares Owned After: 2,928,046 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F6] Each share of Class B Common Stock is convertible at the option of Emergence into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by Emergence will automatically convert into one share of Class A Common Stock upon any transfer by Emergence 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 Eric S. 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. [F1] On January 12, 2026, Emergence Capital Partners III, L.P. (Emergence) converted in the aggregate 1,345,000 shares of the Issuer's Class B Common Stock into 1,345,000 shares of the Issuer's Class A Common Stock. Subsequently, on the same date, Emergence distributed in-kind, without consideration, all 1,345,000 shares of the Issuer's Class A Common Stock pro-rata to its partners in accordance with the exemptions under Rule 16a-9(a) (Rule 16a-9(a)) and Rule 16a-13 (Rule 16a-13) of the Securities Exchange Act of 1934, as amended. [F6] Each share of Class B Common Stock is convertible at the option of Emergence into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by Emergence will automatically convert into one share of Class A Common Stock upon any transfer by Emergence 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 Eric S. 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. [F6] Each share of Class B Common Stock is convertible at the option of Emergence into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by Emergence will automatically convert into one share of Class A Common Stock upon any transfer by Emergence 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 Eric S. 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. [F3] Shares held directly by Emergence. The sole general partner of Emergence is Emergence Equity Partners III, L.P. ("EEP III"), and the sole general partner of EEP III is Emergence GP Partners, LLC ("EGP"). The Reporting Person is a member of EEP III. The Reporting Person disclaims Section 16 beneficial ownership of the shares held by Emergence, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose. --- Holdings --- [Holding #1] Security: Class A Common Stock Ownership: D (Direct) Footnotes: [F4] Balance reflects the Reporting Person's receipt of 13,173 shares of the Issuer's Class A Common Stock by Emergence to its partners in accordance with the exemptions of Rule 16a-9(a) and Rule 16a- 13. [Holding #2] Security: Class A Common Stock Ownership: I (Indirect) Footnotes: [F5] Shares held directly by the Subotovsky Mann Family Trust, of which the Reporting Person is a trustee. --- Footnotes (Complete Index) --- F1: On January 12, 2026, Emergence Capital Partners III, L.P. (Emergence) converted in the aggregate 1,345,000 shares of the Issuer's Class B Common Stock into 1,345,000 shares of the Issuer's Class A Common Stock. Subsequently, on the same date, Emergence distributed in-kind, without consideration, all 1,345,000 shares of the Issuer's Class A Common Stock pro-rata to its partners in accordance with the exemptions under Rule 16a-9(a) (Rule 16a-9(a)) and Rule 16a-13 (Rule 16a-13) of the Securities Exchange Act of 1934, as amended. F2: Represents the pro-rata distribution in kind, without consideration, of all 1,345,000 shares of the Issuer's Class A Common Stock by Emergence to its partners in accordance with the exemptions of Rule 16a-9(a) and Rule 16a-13. F3: Shares held directly by Emergence. The sole general partner of Emergence is Emergence Equity Partners III, L.P. ("EEP III"), and the sole general partner of EEP III is Emergence GP Partners, LLC ("EGP"). The Reporting Person is a member of EEP III. The Reporting Person disclaims Section 16 beneficial ownership of the shares held by Emergence, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose. F4: Balance reflects the Reporting Person's receipt of 13,173 shares of the Issuer's Class A Common Stock by Emergence to its partners in accordance with the exemptions of Rule 16a-9(a) and Rule 16a- 13. F5: Shares held directly by the Subotovsky Mann Family Trust, of which the Reporting Person is a trustee. F6: Each share of Class B Common Stock is convertible at the option of Emergence into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by Emergence will automatically convert into one share of Class A Common Stock upon any transfer by Emergence 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 Eric S. 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. --- Signature --- /s/ /s/ Aparna Bawa, Attorney-in-Fact (2026-01-14)