SEC Form 8-K filed by Zoom Communications Inc.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Director Resignation
On August 14, 2025, Peter Gassner notified Zoom Communications, Inc. (the “Company”) of his decision to resign as a member of the Company’s board of directors (the “Board”), effective August 31, 2025. Mr. Gassner’s decision was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Appointment of Principal Accounting Officer
On August 14, 2025, the Board appointed Kimberly McGarry, the Company’s Chief Accounting Officer, to the role of the Company’s principal accounting officer, effective immediately, to replace Michelle Chang, the Company’s Chief Financial Officer, who had previously held that role.
Ms. McGarry, age 51, has served as the Company’s Chief Accounting Officer since June 2025. Ms. McGarry has over twenty years of experience in accounting and financial reporting. Prior to her role at the Company, she served as the Chief Accounting Officer for Circana, Inc., a market research and technology company, from January 2024 to August 2024, and as the Chief Accounting Officer of Morningstar, Inc., a financial services firm, from May 2018 to January 2024. Ms. McGarry holds a B.S. from Miami University and an M.B.A. from the University of Chicago Booth School of Business and is a Certified Public Accountant.
The Company and Ms. McGarry have entered into an offer letter (the “Offer Letter”), which provides for an annual base salary of $425,000 and a target annual bonus of 55% of her base salary, which will be prorated for fiscal year 2026. The Offer Letter also provides for an initial grant of restricted stock units (“RSUs”) with a target value of $4,000,000. The RSUs will vest over a four-year period, with 25% of the RSUs vesting upon the one-year anniversary of the grant date, and an additional 6.25% of the RSUs vesting each quarter thereafter, subject to Ms. McGarry’s continued service with the Company through each such vesting date. Ms. McGarry has entered into the Company’s standard form of indemnification agreement between the Company and its directors and officers.
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 Communications, Inc. | ||||||
| Dated: August 15, 2025 |
By: | /s/ Aparna Bawa | ||||
| Aparna Bawa | ||||||
| Chief Operating Officer | ||||||
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