Form 4: Zuora Director Jason Pressman Reports Share Cancellation and Conversion Following Merger

Jason Pressman, a director at Zuora, Inc., reports the cancellation and conversion of his Class A Common Stock and restricted stock units into cash following the merger with Zodiac Purchaser, L.L.C.

Summary

• On February 14, 2025, Jason Pressman, a director of Zuora, Inc., filed a Form 4 to report changes in beneficial ownership of Zuora's securities.
• The filing details the impact of the merger between Zuora and Zodiac Purchaser, L.L.C., which became effective on February 19, 2025.
• As a result of the merger, Pressman's shares of Class A Common Stock were canceled and converted into the right to receive $10.00 per share in cash.
• His restricted stock units (RSUs) were also canceled and converted into the right to receive cash equal to the number of shares subject to the RSU multiplied by the merger consideration of $10.00 per share.
• The converted RSU awards will vest and become payable according to the original vesting schedule and terms.
• Pressman also disclaims beneficial ownership of shares held by The 2016 Jason Pressman Trust U/D/T March 8, 2016 and Shasta Ventures II GP, LLC, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a merger, so the sentiment is neutral. It simply reports the facts of the transaction.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a completed merger transaction, which is a common occurrence in the technology industry as companies seek to consolidate, expand market share, or unlock synergies.

Stakeholder Impact

• Shareholders received $10.00 per share in cash as a result of the merger.
• Employees with RSUs will have their awards converted to cash based on the merger consideration, subject to the original vesting schedules.

Key Dates