Richard Barton exercises 300,000 Zillow Group (Z, ZG) options

Rhea-AI Filing Summary

Zillow Group, Inc. director, Co-Executive Chairman and co-founder Richard N. Barton exercised stock options and acquired 300,000 shares of Class C capital stock on February 12, 2026. The options had an exercise price of $22.41 per share and were fully vested and exercisable.

Following the transaction, Barton directly beneficially owns 2,801,225 shares of Class C capital stock. The exercised stock option, which originally covered 300,000 shares and was set to expire on March 28, 2026, now has a reported remaining balance of zero derivative securities owned.

Insider Trade Summary

300,000 shares exercised/converted

Mixed 2 txns

Insider BARTON RICHARD N

Role Co-Executive Chairman

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	300,000	$0.00	--
Exercise	Class C Capital Stock	300,000	$22.41	$6.72M

Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct); Class C Capital Stock — 2,801,225 shares (Direct)

Footnotes (1)

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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).

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^*

BARTON RICHARD N

(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	X	10% Owner
X	Officer (give title below)	X	Other (specify below)
	Co-Executive Chairman		Co-Founder

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

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	02/12/2026		M		300,000	A	$22.41	2,801,225	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)	$22.41	02/12/2026		M			300,000	05/18/2016(1)	03/28/2026	Class C Capital Stock	300,000	$0	0	D

Explanation of Responses:

1. Option is fully vested and exercisable.

Remarks:

	/s/ Shannon Cartales, Attorney-in-Fact	02/12/2026
	** 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).
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 Richard N. Barton report at Zillow Group (Z)?

Richard N. Barton reported exercising stock options for 300,000 shares of Zillow Group Class C capital stock. The options were fully vested, had a $22.41 exercise price, and were converted into common shares without any reported share sale in this filing.

How many Zillow Group Class C shares does Richard N. Barton own after this Form 4?

After the reported transaction, Richard N. Barton directly beneficially owns 2,801,225 shares of Zillow Group Class C capital stock. This reflects the addition of 300,000 shares acquired through the stock option exercise reported in the Form 4 filing.

At what price were Richard N. Barton’s Zillow Group stock options exercised?

The stock options exercised by Richard N. Barton had an exercise price of $22.41 per share. Exercising these options converted 300,000 option units into an equal number of Zillow Group Class C shares, as disclosed in the Form 4 transaction details.

Did Richard N. Barton sell any Zillow Group shares in this Form 4 filing?

No sale transaction is reported in this Form 4. The filing shows an option exercise coded “M,” where 300,000 stock options were converted into 300,000 shares of Class C capital stock, with no separate sale code such as “S” disclosed.

What happened to the derivative securities after Richard N. Barton’s option exercise at Zillow Group?

After the option exercise, the reported number of derivative securities (the stock option) is zero. The option covered 300,000 shares of Class C stock, was fully vested, and upon exercise converted entirely into shares, leaving no remaining derivative balance.

What roles does Richard N. Barton hold at Zillow Group (Z, ZG)?

Richard N. Barton is identified as a director, Co-Executive Chairman, co-founder, and a 10% owner of Zillow Group. These roles are listed in the Form 4, along with his direct ownership of 2,801,225 Class C shares following the reported option exercise.