[144] ZILLOW GROUP, INC. SEC Filing

Rhea-AI Filing Summary

Zillow Group insider sales notice under Rule 144 shows proposed sale of 3,333 Class C shares via Charles Schwab on 09/22/2025 with an aggregate market value of $275,461. The filing records that those shares were acquired the same day through an employee stock option exercise with a cashless broker payment. The filing also lists multiple sales by Lloyd D. Frink over the prior three months, including a large sale of 250,000 shares for $21,250,000 on 08/14/2025, and several smaller sales totaling tens of thousands of shares and millions in gross proceeds.

Positive

• Filing compliance: The notice includes required details (acquisition date, nature of acquisition, broker, sale date and amounts).
• Transparency of prior trades: The three-month sales history lists dates, share counts, and gross proceeds, enabling investor review.

Negative

• Concentrated insider selling: A single large sale of 250,000 shares for $21,250,000 on 08/14/2025 may raise investor concern about insider liquidity or sentiment.
• Frequent dispositions: Multiple sales by the same insider over a short period could be interpreted negatively without additional context on holdings or reasons.

Insights

Financial Analyst

TL;DR: Multiple recent insider sales, including a $21.25M block, are sizable but require context from holdings and timing.

The filing documents a routine Rule 144 notice for a small proposed sale (3,333 shares) acquired via same-day option exercise and settled cashlessly. More materially, the record shows repeated sales by Lloyd D. Frink in the prior three months, highlighted by a 250,000-share sale raising $21.25 million on 08/14/2025. For investors, clustered insider sales can signal liquidity needs or portfolio rebalancing rather than company-specific bad news; the filing itself contains no statements about intent or undisclosed information. Impact is mixed without ownership/shareholding context.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144; the pattern of sales warrants monitoring but is not by itself conclusive of governance issues.

The notice properly reports the proposed sale, acquisition method (employee option exercise), and broker details, satisfying disclosure requirements. The three-month sales history is transparent and includes large and repeated dispositions by an individual insider. While substantial insider sales can attract investor scrutiny, this filing does not allege any transactions outside standard channels or disclose material nonpublic information. Governance assessment requires cross-checking insider ownership changes and any concurrent corporate developments.

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	275461.00	185964745	09/22/2025	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	09/22/2025	Employee Stock Option Exercise	ZILLOW GROUP, INC.			3333	09/22/2025	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
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	09/10/2025	3333	288631.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	09/11/2025	3333	294924.00
Lloyd D Frink 1301 SECOND AVENUE, FLOOR 36 SEATTLE WA 98101	ZILLOW GROUP, INC.	09/12/2025	3334	294155.00

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 filed here report?

The Form 144 reports a proposed sale of 3,333 Class C shares via Charles Schwab on 09/22/2025 valued at $275,461, acquired same day by employee stock option exercise.

Who sold shares in the past three months according to this filing?

The filing lists multiple sales by Lloyd D. Frink, including a 250,000-share sale on 08/14/2025 for $21,250,000 and several smaller transactions on dates from 07/22/2025 to 09/12/2025.

How were the 3,333 shares being sold on 09/22/2025 acquired?

They were acquired on 09/22/2025 through an employee stock option exercise and the payment method was a broker cashless exercise.

Does the filing indicate any undisclosed material information about Zillow?

By signing the notice the seller represents they do not know any undisclosed material adverse information, and the filing contains no statements of undisclosed company information.

What broker is handling the proposed sale?

The broker listed for the proposed sale is Charles Schwab & Co., Inc. located at 3000 Schwab Way, Westlake, TX.