Subotovsky Santiago 4

What Happened

• Santiago Subotovsky, a director of Zoom Video Communications (ZM), sold a total of 2,475 shares in open-market transactions on March 4, 2026, generating proceeds of approximately $191,619. The sales were executed in four tranches:
  • 278 shares at a weighted avg. $75.56 — proceeds $21,007 (sales at $75.105–$76.095)
  • 348 shares at a weighted avg. $76.49 — proceeds $26,619 (sales at $76.155–$77.065)
  • 1,205 shares at a weighted avg. $77.69 — proceeds $93,621 (sales at $77.140–$78.090)
  • 644 shares at a weighted avg. $78.22 — proceeds $50,372 (sales at $78.105–$78.365)
• These were sales (typically considered routine liquidity) rather than purchases.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (filed promptly — Form 4 is due within two business days).
• Total shares sold: 2,475; total proceeds: ≈ $191,619.
• Trades were executed pursuant to a Rule 10b5-1 trading plan adopted by Subotovsky on December 19, 2024 (Footnote F1).
• The prices shown are weighted averages; the filing lists the detailed per-tranche price ranges (see ranges above; Reporting Person will provide exact breakdowns on request — Footnotes F2–F5).
• Ownership after transaction: not specified in the provided excerpt. Footnote F6 notes shares are held directly by the Subotovsky Mann Family Trust, of which the reporting person is trustee.

Context

• Because these sales were made under a pre-established 10b5-1 plan, they are generally treated as pre-scheduled dispositions and not necessarily a new signal about the director’s view of the company. Sales are common for liquidity or portfolio-management reasons; purchases tend to be more indicative of insider conviction.