Zillow (ZG) Form 144: Insider Proposes Sale of 25,575 Shares

Rhea-AI Filing Summary

Zillow Group, Inc. (ZG) filing a Form 144 notifies the proposed sale of 25,575 Class C common shares with an aggregate market value of $2,328,891.00, to be sold on 09/08/2025 through Charles Schwab & Co., Inc. The securities were acquired on 09/08/2025 via an employee stock option exercise and the exercise was settled as a cashless broker payment.

The filing also discloses two prior sales by the same seller within the past three months: 45,710 shares sold on 08/07/2025 for $3,894,972.00 and 2,969 shares sold on 08/13/2025 for $241,867.00. The Form does not provide the filer CIK, filer relationship beyond the tables, or additional narrative explanations.

Insights

Securities Analyst

TL;DR: Insider sale disclosed; quantity is immaterial relative to outstanding shares, suggesting limited market impact.

The Form 144 reports a proposed sale of 25,575 Class C shares valued at $2.33 million to occur on 09/08/2025, executed through Charles Schwab. The shares were acquired the same day via an employee option exercise and settled cashless, indicating a routine liquidity action rather than a secondary offering. Recent prior sales by the same seller total 48,679 shares over two transactions in August 2025 with combined gross proceeds of $4.14 million. Relative to the stated 185,964,745 shares outstanding, the disclosed and recent transactions represent a very small percentage of the float, limiting likely investor reaction. The filing lacks CIK and explicit relationship detail, constraining deeper governance conclusions.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 mechanics; transactions appear routine but filing omits some identifying fields.

The Form 144 documents compliance with Rule 144 reporting for anticipated insider sales tied to an employee stock option exercise and a cashless exercise settlement. The seller previously sold shares in August 2025, indicating ongoing post-exercise disposition. From a governance perspective, the filing provides the essential transaction details (dates, amounts, broker) but does not populate filer identification fields visible in the provided extract, which limits transparency for public review. No statements of undisclosed material information were made beyond the required attestation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Class C	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	25575	2328891.00	185964745	09/08/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Class C	09/08/2025	Employee Stock Option Exercise	ZILLOW GROUP, INC.			25575	09/08/2025	Broker Payment for Cashless Exercise

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Jun Choo 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/07/2025	45710	3894972.00
Jun Choo 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/13/2025	2969	241867.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Zillow Group's Form 144 filed for ZG disclose?

The Form 144 discloses a proposed sale of 25,575 Class C shares valued at $2,328,891.00, to be sold on 09/08/2025 through Charles Schwab.

How were the 25,575 ZG shares acquired?

The shares were acquired on 09/08/2025 via an employee stock option exercise and settled by a broker payment for a cashless exercise.

Who is the broker handling the proposed ZG sale?

The broker listed is Charles Schwab & Co., Inc. located at 3000 Schwab Way, Westlake, TX 76262.

Has the seller sold Zillow shares recently?

Yes. The filing shows prior sales by Jun Choo: 45,710 shares on 08/07/2025 for $3,894,972.00 and 2,969 shares on 08/13/2025 for $241,867.00.

How large is the proposed sale relative to outstanding shares?

The proposed 25,575 shares compare to 185,964,745 shares outstanding as listed in the filing, representing a very small fraction of total outstanding shares.