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

Rhea-AI Filing Summary

Zillow Group, Inc. reported an insider transaction by its Chief Technology Officer on 11/12/2025. The CTO sold a total of 3,893 shares of Class C Capital Stock in several market transactions at weighted average prices ranging from about $70.81 to $73.60. According to the notes, these shares were sold to cover tax withholding due upon the vesting of restricted stock units, rather than as an open-market disposal of existing holdings. After these sales, the CTO beneficially owns 140,656 Class C shares, which remain held directly.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

Beitel David A.

(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 Technology 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		2,973(1)	D	$70.8074(2)	141,576	D
Class C Capital Stock	11/12/2025		S		622(1)	D	$71.705(3)	140,954	D
Class C Capital Stock	11/12/2025		S		193(1)	D	$72.6632(4)	140,761	D
Class C Capital Stock	11/12/2025		S		105(1)	D	$73.6022(5)	140,656	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 $70.36 to $71.35. 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 $72.29. 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 $72.40 to $73.18. 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 $73.43 to $73.69. 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.

FAQ

What insider transaction did Zillow Group (Z, ZG) report in this Form 4?

The Form 4 reports that Zillow Group's Chief Technology Officer sold a total of 3,893 shares of Class C Capital Stock on 11/12/2025 in multiple market transactions.

Why did the Zillow CTO sell 3,893 Class C shares?

The filing states that the 3,893 shares were sold to cover tax withholding due upon the vesting of restricted stock units, as noted in the Explanation of Responses.

At what prices were the Zillow (Z, ZG) CTO’s shares sold?

The shares were sold at weighted average prices of $70.8074, $71.705, $72.6632, and $73.6022, with individual trades occurring within stated ranges between $70.36 and $73.69.

How many Zillow Class C shares does the CTO own after this Form 4 transaction?

Following the reported sales, the Chief Technology Officer beneficially owns 140,656 shares of Zillow Group Class C Capital Stock, held directly.

Which Zillow tickers are associated with this insider transaction?

The issuer is Zillow Group, Inc., and the filing references the trading symbols Z and ZG for its listed shares.

Were the Zillow CTO’s share sales executed as multiple transactions?

Yes. The filing explains that each reported weighted average price reflects multiple transactions within specified price ranges, and detailed trade information is available upon request.