Zillow Group (Z, ZG) director receives stock option grant for 18,996 shares

Rhea-AI Filing Summary

Zillow Group director Gordon Sheridan Stephenson received a grant of stock options covering 18,996 shares on March 1, 2026. The filing describes this as a grant or award acquisition, recorded at a transaction price of $0.00 because it reflects an option grant rather than a purchase.

According to the vesting terms, one quarter of the options will vest and become exercisable after each three-month period following the grant date, so the option will be fully vested and exercisable on the one-year anniversary of the grant date.

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^*

Stephenson Gordon Sheridan

(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)
03/01/2026

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

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)	$44.62	03/01/2026		A		18,996		06/01/2026(1)	03/01/2036	Class C Capital Stock	18,996	$0	18,996	D

Explanation of Responses:

1. 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).
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) report for Gordon Sheridan Stephenson?

Zillow Group reported that director Gordon Sheridan Stephenson received a grant of stock options covering 18,996 shares on March 1, 2026. The transaction is coded as a grant, award, or other acquisition rather than an open-market stock purchase or sale.

How many shares are covered by Gordon Sheridan Stephenson’s new Zillow Group (Z) stock options?

The new stock option grant to Gordon Sheridan Stephenson covers 18,996 shares of Zillow Group. This entire amount is reflected as the total derivative securities held following the transaction, indicating this is a fresh award rather than part of a larger previously held option position.

How do Gordon Sheridan Stephenson’s Zillow Group (Z) stock options vest?

The stock options vest in four equal installments, with one quarter of the shares vesting after each three-month period following the March 1, 2026 grant date. The options therefore become fully vested and exercisable on the one-year anniversary of the grant date, subject to continued service conditions.

Was Gordon Sheridan Stephenson’s Zillow Group (Z) Form 4 transaction a stock purchase or sale?

The Form 4 shows an acquisition of derivative securities through a stock option grant, not a market purchase or sale of common shares. The transaction is coded as a grant, award, or other acquisition, with a reported transaction price per share of $0.00 reflecting the grant accounting treatment.

What ownership type is reported for Gordon Sheridan Stephenson’s Zillow Group (Z) stock option grant?

The Form 4 lists the ownership of the stock option grant as direct, with no separate entity or indirect ownership structure disclosed. There is no footnote indicating that voting or investment power is held by another party, so the grant is attributed directly to Gordon Sheridan Stephenson.