=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-01-09
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: Zoom Communications, Inc. (ZM)
CIK: 0001585521
--- Reporting Owner ---
Name: Chang Michelle
CIK: 0002040959
Role: Officer (Chief Financial Officer)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Class A Common Stock
Date: 2026-01-09 | Code: M (Exercise of derivative)
Shares: +22,217 | Price: $0.00
Shares Owned After: 42,756 | Ownership: D (Direct)
[Transaction #2]
Security: Class A Common Stock
Date: 2026-01-09 | Code: F (Payment of exercise/tax)
Shares: -8,857 | Price: $85.65
Total Value: $758,602.05
Shares Owned After: 33,899 | Ownership: D (Direct)
Footnotes:
[F1] Shares withheld by Issuer to satisfy the tax withholding obligation in connection with the vesting of Restricted Stock Units.
[Transaction #3]
Security: Class A Common Stock
Date: 2026-01-12 | Code: S (Open market sale)
Shares: -6,463 | Price: $86.34
Total Value: $558,015.42
Shares Owned After: 27,436 | Ownership: D (Direct)
Footnotes:
[F2] 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.
[F3] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.79 to 86.77. 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.
[Transaction #4]
Security: Class A Common Stock
Date: 2026-01-12 | Code: S (Open market sale)
Shares: -1,954 | Price: $87.21
Total Value: $170,408.34
Shares Owned After: 25,482 | Ownership: D (Direct)
Footnotes:
[F2] 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.
[F4] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.79 to 87.44. 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.
--- Derivative Transactions ---
[Transaction #1]
Security: Restricted Stock Units
Date: 2026-01-09 | Code: M (Exercise of derivative)
Shares: -22,217 | Price: $0.00
Shares Owned After: 244,390 | Ownership: D (Direct)
Footnotes:
[F5] Each Restricted Stock Unit represents a contingent right to receive one share of Issuer's Class A Common Stock.
[F6] 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.
[F6] 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.
--- Footnotes (Complete Index) ---
F1: Shares withheld by Issuer to satisfy the tax withholding obligation in connection with the vesting of Restricted Stock Units.
F2: 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.
F3: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.79 to 86.77. 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.
F4: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.79 to 87.44. 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.
F5: Each Restricted Stock Unit represents a contingent right to receive one share of Issuer's Class A Common Stock.
F6: 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.
--- Signature ---
/s/ /s/ Aparna Bawa, Attorney-in-Fact (2026-01-13)
