Zillow Group (Z) director exercises stock options for 8,417 Class C shares

Rhea-AI Filing Summary

Zillow Group director Erik C. Blachford exercised stock options to acquire 8,417 shares of Class C capital stock on February 24, 2026. The options were fully vested and exercisable on the grant date. Following this transaction, he directly owned 41,960 shares of Class C stock.

Insider Trade Summary

8,417 shares exercised/converted

Mixed 2 txns

Insider BLACHFORD ERIK C

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	8,417	$0.00	--
Exercise	Class C Capital Stock	8,417	$21.46	$181K

Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct); Class C Capital Stock — 41,960 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^*

BLACHFORD ERIK C

(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)
02/24/2026

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	02/24/2026		M		8,417	A	$21.46	41,960	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	02/24/2026		M			8,417	03/01/2016(1)	03/01/2026	Class C Capital Stock	8,417	$0	0	D

Explanation of Responses:

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

Remarks:

	/s/ Shannon Cartales Attorney-in-Fact	02/25/2026
	** 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 did Zillow Group (Z) director Erik C. Blachford report on this Form 4?

Erik C. Blachford reported exercising stock options to acquire 8,417 shares of Zillow Group Class C capital stock. The transaction was recorded as a derivative exercise on February 24, 2026, increasing his direct Class C share ownership to 41,960 shares.

How many Zillow Group (Z) shares did Erik C. Blachford acquire in this transaction?

Erik C. Blachford acquired 8,417 shares of Zillow Group Class C capital stock through an option exercise. This transaction converted a fully vested stock option into common shares and brought his directly held Class C share position to a total of 41,960 shares afterward.

Was Erik C. Blachford’s Zillow Group option fully vested at exercise?

Yes, the stock option Erik C. Blachford exercised was fully vested and exercisable on the grant date. The Form 4 footnote explicitly states this, indicating there were no remaining vesting conditions when he converted the option into 8,417 Class C capital stock shares.

What type of transaction is reported for Zillow Group (Z) on this Form 4?

The Form 4 reports an option exercise, coded “M,” which is an exercise or conversion of a derivative security. The derivative option position was converted into 8,417 Zillow Group Class C shares, classified as an acquisition rather than an open-market purchase or sale.

How many Zillow Group (Z) shares does Erik C. Blachford own after this filing?

After the reported transactions, Erik C. Blachford directly owns 41,960 shares of Zillow Group Class C capital stock. This reflects the addition of 8,417 shares obtained by exercising a fully vested stock option reported on the Form 4 dated February 24, 2026.