Zoom (ZM) CEO Yuan Transfers 40% of His Shares - WSJ

March 8, 2021 4:58 PM EST

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Zoom (NASDAQ: ZM) founder and CEO, Eric Yuan, transferred 40% of this stock ownership to unspecified recipients, the Wall Street Journal reported citing a recent SEC filing.

Yuan and his wife transferred two tranches of nearly 9 million shares which were recorded as gifts.

In a statement, a Zoom spokeswoman said “the distributions were made in accordance with the terms of Eric Yuan and his wife’s trusts, and are consistent with the Yuans’s typical estate planning practices.”

The stake transferred is worth approximately $6 billion.

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