Company: ZM
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016910
Chunk: 52

Company: Zoom Communications, Inc.
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 52
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 which she continued to provide services to the Company through a transition period and remained entitled to her annual base salary and vesting of her outstanding equity awards pursuant to their terms. Ms. Steckelberg ceased providing services to us on November 26, 2024 and was not entitled to, and did not receive, any severance payments or benefits in connection with the termination of her services. A more detailed description of the Severance Plan and each of our named executive officer’s potential payments and benefits upon a termination or change in control is provided below under “Potential Payments upon Termination or Change in Control.” 401(k) Plan, ESPP, Welfare and Health Benefits We maintain a tax-qualified retirement plan that provides eligible U.S. employees, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis. Eligible employees may make voluntary contributions from their eligible pay, up to certain applicable annual limits set by the Internal Revenue Code of 1986, as amended, or the “Code.” We have the ability to make discretionary matching and discretionary employer contributions to the 401(k) plan. For fiscal 2025, we made (i) a discretionary matching employer contribution equal to 50% of each participant’s deferral contributions to the extent such contributions do not exceed 3% of the participant’s 401(k) plan compensation on a payroll by payroll basis and (ii) a true-up discretionary matching contribution in the first quarter of the following fiscal year (typically by the end of April), in the same amount for participants employed on the last working day of the plan year of the 401(k) plan. The 401(k) plan is intended to be qualified under Section 401(a) of the Code with the 401(k) plan’s related trust intended to be tax exempt under Section 501(a) of the Code. As a tax-qualified retirement plan, contributions to the 401(k) plan are deductible by us when made and contributions and earnings on those amounts are not generally taxable to the employees until withdrawn or distributed from the 401(k) plan. We also offer our employees, including our named executive officers, the opportunity to purchase shares of our common stock at a discount under our 2019 Employee Stock Purchase Plan, or “ESPP.” Pursuant to the ESPP, all eligible employees, including the eligible named executive officers, may allocate up to 20% of the participant’s earnings (as defined in the ESPP) for that year to purchase our Class