Zoom Video Communications Files 8-K

Ticker: ZM · Form: 8-K · Filed: Aug 21, 2024

Sentiment: neutral

Topics: corporate-governance, executive-compensation, filing

Related Tickers: ZM

TL;DR

Zoom filed an 8-K on Aug 21, 2024, covering exec comp and board changes.

AI Summary

On August 21, 2024, Zoom Video Communications, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation arrangements. The filing also includes financial statements and exhibits, though specific financial results or executive changes were not detailed in the provided text.

Why It Matters

This filing indicates potential shifts in corporate governance and executive compensation, which can influence investor confidence and the company's strategic direction.

Risk Assessment

Risk Level: low — The filing is a standard disclosure of corporate events and does not immediately indicate significant financial distress or operational risk.

Key Players & Entities

FAQ

What specific changes were made to the board of directors or executive officers?

The provided text of the 8-K filing does not specify the exact changes to the board of directors or executive officers, only that these items are covered under the filing.

Are there any details on new executive compensation arrangements?

The filing indicates that compensatory arrangements of certain officers are part of the report, but specific details of these arrangements are not included in the provided text.

What financial statements are included in this filing?

The filing lists 'Financial Statements and Exhibits' as an item, but the specific content or results of these statements are not detailed in the provided text.

What is the primary purpose of this 8-K filing?

This 8-K filing serves as a current report for Zoom Video Communications, Inc., covering results of operations, financial condition, and changes related to directors, officers, and compensatory arrangements.

When was this 8-K filing submitted?

The filing was submitted on August 21, 2024.

Filing Stats: 811 words · 3 min read · ~3 pages · Grade level 11.2 · Accepted 2024-08-21 16:05:19

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On August 21, 2024, Zoom Video Communications, Inc. (the "Company") issued a press release announcing its financial results for the three months ended July 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated by reference. The information contained in this report, including Exhibit 99.1 attached hereto, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section. The information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission made by the Company regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 16, 2024, Kelly Steckelberg notified the Company that she intends to resign from her role as the Company's Chief Financial Officer. Ms. Steckelberg's decision was not the result of any disagreement with the Company. The Company has commenced a search process to identify Ms. Steckelberg's successor. On August 21, 2024, the Company entered into a Transition and Separation Agreement with Ms. Steckelberg (the "Transition Agreement"), in connection with her departure from the Company. Pursuant to the Transition Agreement, Ms. Steckelberg will continue to serve as the Company's Chief Financial Officer through the release of the Company's earnings for the fiscal quarter ending October 31, 2024 (the "Transition Period"). Commencing October 10, 2024, she will be serving in this role on a part-time basis (the "Part-Time Period"). During the Transition Period and the Part-Time Period, Ms. Steckelberg will be entitled to receive her base salary at the

01 Financial Statements And Exhibits

Item 9.01 Financial Statements And Exhibits. (d) Exhibits Exhibit No. Description 10.1 Transition and Separation Agreement between Zoom Video Communications, Inc. and Kelly Steckelberg, dated August 21, 2024 99.1 Press release dated August 21 , 2024 of Zoom Video Communications, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Zoom Video Communications, Inc. Dated: August 21, 2024 By: /s/ Aparna Bawa Aparna Bawa Chief Operating Officer

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