Zillow (ZG) insider sales: 86,666 shares sold, Form 144 filed

Rhea-AI Filing Summary

Zillow Group, Inc. filed a Form 144 reporting a proposed sale of 3,334 Class C common shares through Charles Schwab, with an aggregate market value of $275,260. The filing shows these shares were acquired on 08/13/2025 via an employee stock option exercise and that the sale will be effected by broker payment as a cashless exercise.

The notice also lists sales by Lloyd D. Frink during the past three months totaling 86,666 shares for gross proceeds of $6,972,822. With 185,964,745 shares outstanding listed, the proposed 3,334-share sale represents a very small fraction of the outstanding stock (~0.0018%).

Positive

• Acquired via employee stock option exercise (explicitly stated in the filing).
• Proposed sale size is very small relative to outstanding shares — 3,334 of 185,964,745 (~0.0018%).

Negative

• Recent sales by Lloyd D. Frink totaled 86,666 shares for gross proceeds of $6,972,822 in the past three months (explicitly reported).
• Proposed sale will be executed by broker as a cashless exercise (explicitly stated), indicating the transaction is tied to option exercise liquidity rather than a simple open-market purchase.

Insights

Financial Analyst

TL;DR: Routine Form 144 disclosure showing a small proposed sale and recent insider sell transactions; market impact likely minimal.

The filing documents a 3,334-share proposed sale valued at $275,260, acquired by employee stock option exercise and to be executed as a broker cashless exercise. Recent disclosed sales by Lloyd D. Frink total 86,666 shares for $6,972,822 in gross proceeds. Relative to the listed 185,964,745 shares outstanding, these amounts are small, suggesting limited direct impact on company valuation, though they are pertinent for monitoring insider liquidity activity.

Corporate Governance Expert

TL;DR: Disclosure reflects standard option exercise and subsequent brokered sale; documents routine insider transactions without apparent governance red flags.

The form explicitly records an employee stock option exercise and a broker-handled cashless sale. The past three-month sales ledger names Lloyd D. Frink with specific sale dates and proceeds, providing transparent traceability of insider disposals. From a governance perspective, the filing meets disclosure expectations and does not by itself indicate unusual trading patterns.

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	3334	275260.00	185964745	08/13/2025	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	08/13/2025	Employee Stock Option Exercise	ZILLOW GROUP, INC.			3334	08/13/2025	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

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 disclose?

The Form 144 discloses a proposed sale of 3,334 Class C common shares valued at $275,260, acquired via employee stock option exercise and to be sold through Charles Schwab as a cashless exercise.

How many shares is the filer proposing to sell and what is their value?

The filer proposes to sell 3,334 shares with an aggregate market value of $275,260. The approximate sale date listed is 08/13/2025 and the exchange cited is NASDAQ.

How were the securities being sold acquired?

The securities were acquired on 08/13/2025 via an Employee Stock Option Exercise from Zillow Group, Inc., with payment described as Broker Payment for Cashless Exercise.

What insider sales were reported in the past three months for ZG?

The filing lists sales by Lloyd D. Frink on 07/22/2025, 07/23/2025, 08/11/2025, and 08/12/2025 totaling 86,666 shares for gross proceeds of $6,972,822.

Which broker and exchange are named in the Form 144?

The broker named is Charles Schwab & Co., Inc. (3000 Schwab Way, Westlake, TX) and the exchange listed for the transaction is NASDAQ.