Zillow Group (Z, ZG) director exercises options and sells shares

Rhea-AI Filing Summary

Zillow Group director Gregory B. Maffei reported a combination of option grants, option exercises, and share sales. He received a stock option grant for 18,996 shares on March 1, 2026 at an exercise price of $0.0000 per share. On February 27, 2026, he exercised stock options covering 16,835 shares and acquired 16,835 shares of Class C capital stock at an exercise price of $21.4600 per share. That same day he sold 8,050 Class C shares in an open‑market transaction at an average price of $45.1501 per share, and reported owning 637,783 Class C shares directly afterward.

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^*

MAFFEI GREGORY B

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M		16,835	A	$21.46	645,833	D
Class C Capital Stock	02/27/2026		S		8,050	D	$45.1501	637,783	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
Stock Option (right to buy)	$21.46	02/27/2026		M			16,835	03/01/2016(1)	03/01/2026	Class C Capital Stock	16,835	$0	0	D
Stock Option (right to buy)	$44.62	03/01/2026		A		18,996		06/01/2026(2)	03/01/2036	Class C Capital Stock	18,996	$0	18,996	D

Explanation of Responses:

1. Option is fully vested and exercisable on date of grant.

2. 1/4th of the shares subject to the option will vest and become exercisable after each-three-month period following the grant date such that the option will be fully vested and exercisable on the one-year anniversary of the grant date.

Remarks:

	/s/ Shannon Cartales Attorney-in-Fact	03/03/2026
	** 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).
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FAQ

What insider transactions did Gregory B. Maffei report at Zillow Group (Z)?

Gregory B. Maffei reported an option grant, an option exercise, and a related share sale. He received 18,996 stock options, exercised 16,835 options into Class C shares, and sold 8,050 Class C shares in an open‑market transaction on February 27, 2026.

How many Zillow Group Class C shares did Gregory Maffei sell in this Form 4?

Gregory Maffei sold 8,050 shares of Zillow Group Class C capital stock. The sale occurred on February 27, 2026 at an average price of $45.1501 per share, in an open‑market or private transaction, as classified under transaction code S.

What stock options were granted to Gregory Maffei by Zillow Group (Z, ZG)?

Maffei was granted a stock option covering 18,996 shares of Zillow Group stock. The grant was reported effective March 1, 2026 with an exercise price of $0.0000 per share, and is recorded as a derivative security held under direct ownership following the grant.

What option exercise did Gregory Maffei report for Zillow Group Class C shares?

He reported exercising stock options for 16,835 shares, converting them into 16,835 Class C capital shares. The exercise took place on February 27, 2026 at an exercise price of $21.4600 per share, classified as a derivative exercise under transaction code M.

How many Zillow Group Class C shares does Gregory Maffei own after these transactions?

After the reported transactions, Maffei directly owns 637,783 shares of Zillow Group Class C stock. This post‑transaction balance reflects the option exercise and subsequent sale of 8,050 shares, as disclosed in the Form 4’s ownership totals column.

Are Gregory Maffei’s Zillow Group transactions classified as buys or sells overall?

The filing shows a mix of acquisition and sale activity by Maffei. He acquired shares through an option grant and an option exercise, then sold 8,050 Class C shares, producing a combination of derivative awards, exercises, and open‑market sales.