ZG insider sells 6,835 Class C shares at $82.08 after exercising options
Rhea-AI Filing Summary
Gordon Stephenson, a Zillow Group director, reported an option exercise and contemporaneous sale of Class C shares. The filing shows an exercise of stock options with an exercise price of $21.46 to acquire 6,835 Class C shares and a subsequent sale of 6,835 Class C shares in multiple transactions at a weighted average sale price of $82.0787 (range $82.04–$82.20). The option referenced a grant dated 03/01/2016 with a 03/01/2026 expiration and was identified as fully vested. After these transactions the reporting person beneficially owned 28,290 Class C shares directly and 40,000 indirectly through Stephenson Family LLC.
Positive
- Option was fully vested, and exercise details are disclosed (exercise price $21.46, grant date 03/01/2016, expiration 03/01/2026).
- Sale reported with specific pricing: a weighted average sale price of $82.0787 and a disclosed range of $82.04–$82.20.
Negative
- Director sold 6,835 Class C shares, reducing direct beneficial ownership to 28,290 shares.
- Disposition reported may be interpreted by some investors as a liquidity event rather than additional long-term accumulation.
Insights
TL;DR: Exercise and sale of 6,835 shares; sale price well above exercise price, leaving direct holdings of 28,290 and 40,000 indirect.
The Form 4 discloses a routine option exercise and immediate disposition of the resulting shares. The exercise price was $21.46 and the shares were sold at a weighted average price of $82.0787, an outcome that realizes the intrinsic value in the grant. The disclosure also documents the option grant date (03/01/2016) and an expiration date (03/01/2026), and notes the option was fully vested. For investors, this is a clear, itemized insider liquidity event rather than a governance or compliance exception.
TL;DR: Disclosure is complete and standard: vested option exercised, sale disclosed with price range, indirect holdings declared.
The filing provides the key governance elements investors expect: relationship to issuer (Director), nature of transactions (option exercise and sale), vesting status, and indirect ownership through Stephenson Family LLC. The signature is executed by an Attorney-in-Fact, consistent with authorized reporting procedures. The report does not disclose any unusual restrictions or undisclosed transfers; it reads as a routine insider liquidity event with full disclosure of amounts and prices.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 6,835 | $0.00 | -- |
| Exercise | Class C Capital Stock | 6,835 | $21.46 | $147K |
| Sale | Class C Capital Stock | 6,835 | $82.0787 | $561K |
| holding | Class C Capital Stock | -- | -- | -- |
Footnotes (1)
- The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $82.04 to $82.20. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range. Option is fully vested and exercisable on date of grant.
