ZM Filing
4Filing Date: Jul 15, 2026

Zoom Communications, Inc. (ZM) · Insider Trading (Form 4) SEC Filing

Statement of Changes in Beneficial Ownership

descriptionView SEC Filing
ACC: 0001585521-26-000104open_in_new
Total Value$6.40M
Trades10
Insiders1

Transaction Details

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
· Acquire
Class A Common Stock
Shares+12.10K
Price$0.00
Total Value$0
Shares Owned After35.10K
Transaction DateJul 14, 2026
10b5-1
Footnotes ▸

The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-3.60K
Price$91.30
Total Value$328.8K
Shares Owned After23.00K
Transaction DateJul 14, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.94 to $91.86. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-7.29K
Price$90.53
Total Value$660.2K
Shares Owned After26.60K
Transaction DateJul 14, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.93 to $90.92. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-1.21K
Price$89.49
Total Value$107.9K
Shares Owned After33.89K
Transaction DateJul 14, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.925 to $89.915. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
· Dispose
Class B Common StockDerivative
Shares-12.10K
Price$0.00
Total Value$0
Shares Owned After20.72M
Transaction DateJul 14, 2026
10b5-1
Footnotes ▸

Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
· Acquire
Class A Common Stock
Shares+12.10K
Price$91.68
Total Value$1.11M
Shares Owned After68.72K
Transaction DateJul 13, 2026
10b5-1
Footnotes ▸

The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-15.59K
Price$92.53
Total Value$1.44M
Shares Owned After23.00K
Transaction DateJul 13, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.105 to $93.0975. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-11.08K
Price$90.62
Total Value$1.00M
Shares Owned After57.65K
Transaction DateJul 13, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.105 to $91.09. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
Sell · Dispose
Class A Common Stock
Shares-19.05K
Price$91.61
Total Value$1.75M
Shares Owned After38.59K
Transaction DateJul 13, 2026
10b5-1
Footnotes ▸

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 20, 2025. | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.11 to $92.10. 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 shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Yuan Eric S.
Chief Executive Officer, Director·Indirect · See footnote
· Dispose
Class B Common StockDerivative
Shares-12.10K
Price$0.00
Total Value$0
Shares Owned After20.73M
Transaction DateJul 13, 2026
10b5-1
Footnotes ▸

Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. | The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees.

Post-Transaction Holdings

Yuan Eric S.
SecuritySharesChange
Class A Common Stock35.10K-33.62K (-48.93%)
Class B Common Stock20.72M-24.20K (-0.12%)
Original SEC Filing Textexpand_more
=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-07-13 10b5-1 Pre-arranged Plan: Yes --- Issuer --- Name: Zoom Communications, Inc. (ZM) CIK: 0001585521 --- Reporting Owner --- Name: Yuan Eric S. CIK: 0001773298 Role: Director, Officer (Chief Executive Officer) --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-07-13 | Code: C (Conversion of derivative) Shares: +12,100 | Price: $91.68 Total Value: $1,109,376.40 Shares Owned After: 68,722 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #2] Security: Class A Common Stock Date: 2026-07-13 | Code: S (Open market sale) Shares: -11,077 | Price: $90.62 Total Value: $1,003,836.51 Shares Owned After: 57,645 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F3] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.105 to $91.09. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #3] Security: Class A Common Stock Date: 2026-07-13 | Code: S (Open market sale) Shares: -19,054 | Price: $91.61 Total Value: $1,745,502.64 Shares Owned After: 38,591 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F4] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.11 to $92.10. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #4] Security: Class A Common Stock Date: 2026-07-13 | Code: S (Open market sale) Shares: -15,593 | Price: $92.53 Total Value: $1,442,820.29 Shares Owned After: 22,998 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F5] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.105 to $93.0975. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #5] Security: Class A Common Stock Date: 2026-07-14 | Code: C (Conversion of derivative) Shares: +12,100 | Price: $0.00 Shares Owned After: 35,098 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #6] Security: Class A Common Stock Date: 2026-07-14 | Code: S (Open market sale) Shares: -1,206 | Price: $89.49 Total Value: $107,928.56 Shares Owned After: 33,892 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F6] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.925 to $89.915. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #7] Security: Class A Common Stock Date: 2026-07-14 | Code: S (Open market sale) Shares: -7,293 | Price: $90.53 Total Value: $660,204.66 Shares Owned After: 26,599 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F7] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.93 to $90.92. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #8] Security: Class A Common Stock Date: 2026-07-14 | Code: S (Open market sale) Shares: -3,601 | Price: $91.30 Total Value: $328,768.06 Shares Owned After: 22,998 | Ownership: I (Indirect) | Nature: See footnote 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 20, 2025. [F8] The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.94 to $91.86. 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. [F1] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. --- Derivative Transactions --- [Transaction #1] Security: Class B Common Stock Date: 2026-07-13 | Code: C (Conversion of derivative) Shares: -12,100 | Price: $0.00 Shares Owned After: 20,728,385 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. [Transaction #2] Security: Class B Common Stock Date: 2026-07-14 | Code: C (Conversion of derivative) Shares: -12,100 | Price: $0.00 Shares Owned After: 20,716,285 | Ownership: I (Indirect) | Nature: See footnote Footnotes: [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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. [F9] Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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] The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. --- Footnotes (Complete Index) --- F1: The shares are held of record by Zheng Yuan and Hongyu Zhang, cotrustees of the the 2018 Yuan and Zhang Revocable Trust, for which the Reporting Person and the Reporting Person's spouse serve as cotrustees. 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 20, 2025. F3: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.105 to $91.09. 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 $91.11 to $92.10. 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: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.105 to $93.0975. 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. F6: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.925 to $89.915. 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. F7: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.93 to $90.92. 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. F8: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.94 to $91.86. 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. F9: Each share of Class B Common Stock is convertible at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon (a) other than Eric S. Yuan, the death of the Reporting Person, or (b) any transfer by the Reporting Person 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 Mr. 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/ Cheree McAlpine, Attorney-in-Fact (2026-07-15)

keid analysis is for reference only and does not constitute investment advice.