The insider selling is routine in scale and pattern (derivative conversion + same-day sale is standard for tax planning). No bearish signal. Monitor next 10-Q for any fundamental deterioration, but this cluster alone does not warrant action.
Price Chart
Executive Summary
CEO Eric Yuan and CFO Michelle Chang sold a combined ~$688K in open-market ZM shares over a 7-day window, with Yuan executing multiple derivative conversions and same-day sales. While the dollar value is trivial relative to ZM's $27.2B market cap (0.003%), the cluster involves both the CEO and CFO, which carries modest informational weight. Historical calibration on ZM reports shows a poor track record (22% win rate at T+20, avg alpha -15.4%), and the score-6 cell has a 41% observed up-move probability with a net negative payoff — biasing the impact score downward.
Key Financial Metrics
Key Facts
- CEO Eric Yuan sold ~$5.3M in open-market shares across multiple days (July 13-14), including same-day derivative conversions and sales.
- CFO Michelle Chang sold ~$771K in open-market shares on July 10.
- Director Herbert McMaster sold 5 shares for $444 — de minimis.
- Total open-market sales: ~$6.1M, or ~0.022% of ZM's $27.2B market cap — well below the 0.1% materiality threshold.
- Non-cash derivative conversions (12,100 shares at $0) by Yuan on July 13-14 represent no economic value.
- Historical calibration: score-6 reports on ZM have a 41% observed up-move probability at T+20 with a net negative average alpha (-0.16% after costs).
Financial Impact
Total open-market sales of ~$6.1M represent ~0.022% of ZM's $27.2B market cap — trivial and routine.
Risk Factors
- Insider selling could accelerate if ZM's stock price continues to appreciate, but current levels are immaterial.
- Historical ZM reports have been poor predictors — past cluster analysis on this ticker has not been informative.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ZM-1784239296912 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Insider Cluster | $95.57 $88.77 | ▼ −7.12% | ▼ −6.89% | $92.88 (−2.81%) |
Sep 10, 2026 22d ago | Insider Cluster | $95.57 $88.77 | ▼ −7.12% | ▼ −6.89% | $92.88 (−2.81%) |
Sep 2, 2026 4w ago | 8-K | $98.14 $95.57 | ▼ −2.62% | ▼ −1.47% | $92.88 (−5.36%) |
Aug 25, 2026 5w ago | Press Release | $93.83 $95.86 | ▲ +2.16% | ▲ +2.28% | $92.88 (−1.01%) |
Aug 14, 2026 7w ago | Insider Cluster | $105.56 $104.83 | ▼ −0.69% | ▲ +0.50% | $92.88 (−12.01%) |
Aug 7, 2026 8w ago | Insider Cluster | $107.20 $105.48 | ▼ −1.60% | ▼ −1.56% | $92.88 (−13.36%) |
Jul 22, 2026 10w ago | Press Release | $85.81 $92.41 | ▲ +7.69% | ▲ +10.09% | $92.88 (+8.24%) |
Jul 16, 2026 11w ago | Insider Cluster | $91.13 $84.11 | ▼ −7.70% | ▼ −7.02% | $92.88 (+1.92%) |
Jul 15, 2026 11w ago | Insider Cluster | $92.92 $84.11 | ▼ −9.48% | ▼ −7.81% | $92.88 (−0.04%) |
Jul 2, 2026 13w ago | Press Release | $87.15 $89.88 | ▲ +3.14% | ▲ +2.21% | $92.88 (+6.58%) |
US Market Status
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