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  4. [Form 4] ZILLOW GROUP, INC. Insider Trading Activity

Zillow insider Form 4 shows sales; post‑trade holding 50,342

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Zillow Group (Z, ZG) insider transaction: the company’s Chief People Officer reported open‑market sales of Class C Capital Stock. On 11/12/2025, shares were sold in multiple tranches to cover tax withholding due upon RSU vesting, including 2,903 shares at a weighted average price of $70.8031, 622 at $71.7081, 198 at $72.7003, and 96 at $73.5747. On 11/14/2025, 5,455 shares were sold pursuant to a Rule 10b5‑1 plan adopted on 08/30/2024 at a weighted average price of $69.3956. Following these transactions, beneficial ownership is 50,342 Class C shares (direct).

Positive

  • None.

Negative

  • None.
Insider Spaulding Dan
Role Chief People Officer
Sold 9,274 shs ($650K)
Type Security Shares Price Value
Sale Class C Capital Stock 5,455 $69.3956 $379K
Sale Class C Capital Stock 2,903 $70.8031 $206K
Sale Class C Capital Stock 622 $71.7081 $45K
Sale Class C Capital Stock 198 $72.7003 $14K
Sale Class C Capital Stock 96 $73.5747 $7K
Holdings After Transaction: Class C Capital Stock — 50,342 shares (Direct)
Footnotes (1)
  1. Represents shares sold to cover tax withholding due upon vesting of restricted stock units. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $70.35 to $71.3450. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $71.36 to $72.32. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $72.42 to $73.26. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $73.44 to $73.68. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 30, 2024. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $69.22 to $69.62. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Spaulding Dan
(Last) (First) (Middle)
C/O ZILLOW GROUP, INC.
1301 SECOND AVENUE, FLOOR 36
(Street)
SEATTLE WA 98101
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ZILLOW GROUP, INC. [ Z AND ZG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief People Officer
3. Date of Earliest Transaction (Month/Day/Year)
11/12/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class C Capital Stock 11/12/2025 S 2,903(1) D $70.8031(2) 56,713 D
Class C Capital Stock 11/12/2025 S 622(1) D $71.7081(3) 56,091 D
Class C Capital Stock 11/12/2025 S 198(1) D $72.7003(4) 55,893 D
Class C Capital Stock 11/12/2025 S 96(1) D $73.5747(5) 55,797 D
Class C Capital Stock 11/14/2025 S 5,455(6) D $69.3956(7) 50,342 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents shares sold to cover tax withholding due upon vesting of restricted stock units.
2. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $70.35 to $71.3450. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
3. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $71.36 to $72.32. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
4. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $72.42 to $73.26. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
5. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $73.44 to $73.68. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
6. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 30, 2024.
7. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $69.22 to $69.62. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.
Remarks:
/s/ Shannon Cartales Attorney-in-Fact 11/14/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Zillow Group (Z) report in this Form 4?

The Chief People Officer reported sales of Class C shares on 11/12/2025 and 11/14/2025, with 11/12 sales covering tax withholding from RSU vesting and the 11/14 sale under a Rule 10b5-1 plan.

How many Zillow (Z) shares does the reporting person hold after the transactions?

50,342 Class C shares, held directly.

Were any sales part of a prearranged 10b5-1 plan for Zillow (ZG)?

Yes. The 11/14/2025 sale of 5,455 shares was effected under a Rule 10b5-1 plan adopted on 08/30/2024.

Which Zillow securities were involved and at what prices?

Class C Capital Stock. Weighted average sale prices included $70.8031, $71.7081, $72.7003, $73.5747 (11/12/2025), and $69.3956 (11/14/2025).

Why were some of the Zillow (Z) shares sold on 11/12/2025?

Those sales were to cover tax withholding due upon the vesting of restricted stock units.

What were the sale price ranges disclosed?

Ranges included $70.35–$71.3450, $71.36–$72.32, $72.42–$73.26, $73.44–$73.68, and $69.22–$69.62 for the respective tranches.