Chang Michelle 4

What Happened
Michelle Chang, Chief Financial Officer of Zoom (ZM), had 22,217 restricted stock units convert to 22,217 shares on April 9, 2026 (reported as derivative conversion, code M). To satisfy tax withholding, 8,743 shares were withheld (code F) at a weighted average price of $83.23 for $727,680. On April 10, 2026 she sold 8,489 shares in several open‑market transactions (code S) in four blocks: 5,156 @ $80.36 ($414,339), 800 @ $81.28 ($65,027), 1,500 @ $82.79 ($124,191) and 1,033 @ $84.00 ($86,773), totaling $690,330. Combined proceeds shown for the disposals equal about $1,418,010. After the withholding and sales, 4,985 shares remained from this vesting event.

Key Details

• Dates: conversion/withholding on 2026-04-09; open‑market sales on 2026-04-10; Form 4 filed 2026-04-13 (timely).
• Transaction types: M = conversion/exercise of derivative (RSU), F = tax withholding (shares withheld), S = open‑market sales.
• Prices: weighted averages reported; sale price ranges were ~$79.84–84.01 across the trades (see filing footnotes).
• Shares retained from this vesting: 4,985 (22,217 vested − 8,743 withheld − 8,489 sold). The filer’s total ZM holdings after these transactions are not disclosed on this Form 4.
• Notable footnotes: sales were effected under a Rule 10b5‑1 trading plan (adopted June 13, 2025). Each RSU equals one share and the award had a scheduled vesting plan with acceleration provisions.

Context
This was primarily a routine vesting/tax‑withholding event plus planned open‑market sales under a 10b5‑1 plan. The conversion of RSUs and share withholding is effectively a cashless tax payment; the subsequent sales were pre‑planned dispositions rather than ad hoc purchases. These transactions are informational (showing insider liquidity from vesting) and should not be interpreted as direct commentary on company outlook.