Zillow (ZG) Insider Sells 3,333 Shares; 350,000 Shares Sold in Prior 3 Months

Rhea-AI Filing Summary

Zillow Group, Inc. (ZG) filed a Form 144 reporting a proposed sale of 3,333 Common Class C shares through Charles Schwab on 09/10/2025 with an aggregate market value of $288,631. The shares were acquired the same day via an employee stock option exercise by the reporting person, with a cashless broker payment. The filing also discloses insider sales by Lloyd D. Frink totaling 350,000 shares during the prior three months, generating aggregate gross proceeds of $29,345,587, including a single large sale of 250,000 shares on 08/14/2025. The notice includes the required representation that the seller is not aware of undisclosed material adverse information.

Positive

• The proposed sale discloses that the 3,333 shares were acquired via an employee stock option exercise, a common and transparent liquidity mechanism
• Filing identifies broker (Charles Schwab), sale date (09/10/2025), and aggregate market value ($288,631), meeting Rule 144 disclosure requirements

Negative

• Insider sales in the prior three months total 350,000 shares, generating $29,345,587 in gross proceeds, which may be viewed negatively by some investors
• A single large disposal of 250,000 shares on 08/14/2025 accounts for most of the three-month proceeds and represents concentrated insider selling activity

Insights

Securities Analyst

TL;DR: Insider reports propose sale of 3,333 shares and show recent insider dispositions of 350,000 shares totaling $29.35M.

The Form 144 documents a proposed sale tied to an employee option exercise and discloses material recent insider selling activity by Lloyd D. Frink. The 3,333-share notice (market value $288,631) stems from a cashless exercise executed the same day, which is a routine liquidity event for option holders. More notable are the aggregated three-month sales of 350,000 shares for $29.35M, dominated by a 250,000-share sale on 08/14/2025. For analysts, the filing is a clear transparency item but does not, by itself, provide information about company fundamentals.

Corporate Governance Expert

TL;DR: Form 144 shows required disclosure of insider sale after option exercise and substantial prior insider dispositions.

The filing meets Rule 144 disclosure requirements by specifying the broker, number of shares, acquisition method, and sale timing. The same-day acquisition and cashless exercise are properly disclosed. The prior three-month sales pack significant volume and proceeds, which governance teams typically track for insider trading pattern analysis and public perception. The filing contains the seller's attestation regarding material non-public information, as required.

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

Relationship to Issuer

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	3333	288631.00	185964745	09/10/2025	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	09/10/2025	Employee Stock Option Exercise	ZILLOW GROUP, INC.			3333	09/10/2025	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
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	07/22/2025	52866	4242365.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	07/23/2025	27134	2194480.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE CA 98101	ZILLOW GROUP, INC.	08/11/2025	671	54186.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/12/2025	5995	481791.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/13/2025	3334	275260.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/14/2025	250000	21250000.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/27/2025	3333	283498.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/28/2025	3333	281799.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	08/29/2025	3334	282208.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 (ZG) Form 144 report on the proposed sale?

The Form 144 reports a proposed sale of 3,333 Common Class C shares through Charles Schwab on 09/10/2025, with an aggregate market value of $288,631.

How were the 3,333 shares acquired according to the filing?

The shares were acquired on 09/10/2025 via an employee stock option exercise, with a cashless broker payment for the exercise.

What insider sales does the filing disclose for the past three months?

The filing lists insider sales by Lloyd D. Frink totaling 350,000 shares from 07/22/2025 to 08/29/2025, with aggregate gross proceeds of $29,345,587.

Was there a particularly large insider sale disclosed?

Yes, a sale of 250,000 shares on 08/14/2025 generated $21,250,000 in gross proceeds, the largest single transaction listed.

Which broker is handling the proposed sale on the Form 144?

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