Zoom CEO Eric Yuan sold 58,655 shares worth $5.1 million on July 8 and 9 to cover tax obligations from vesting restricted stock units, according to an SEC filing.
Zoom CEO Sells $5.1M in Stock
Eric Yuan just cashed out — but not for the reason you’d think. According to a Motley Fool report citing an SEC Form 4 filing, the Zoom CEO offloaded 58,655 shares at $86.38 apiece, netting roughly $5.1 million, purely to cover tax withholding on vesting RSUs.
The sale trimmed Yuan’s indirect holdings by 51%, though he still controls over 21.2 million derivative securities through his family trust. The transaction came as Zoom stock traded near $89.88, up 16% over the past year.
Zoom’s fiscal first-quarter revenue hit $1.2 billion, a 5.5% year-over-year gain, with enterprise revenue climbing 7.2% to $755.7 million.
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