Insider Sale: Zillow CTO Disposes 22,510 Class C Shares

Rhea-AI Filing Summary

David A. Beitel, Chief Technology Officer and Director of Zillow Group, reported an insider sale. On 09/08/2025 he disposed of 22,510 shares of Class C Capital Stock at a weighted average sale price of $90.9708, in multiple transactions at prices ranging from $90.74 to $91.21. After the sale he beneficially owned 144,549 shares. The Form 4 was executed by an attorney-in-fact and dated 09/10/2025. The filing provides transaction quantities, price range, and remaining beneficial ownership.

Positive

• None.

Negative

• Insider sale disclosed: The reporting person sold 22,510 shares of Class C stock on 09/08/2025, reducing beneficial ownership to 144,549 shares.

Insights

Corporate Governance Expert

TL;DR: Officer sold shares; disclosure is routine but worth noting for ownership trends.

The Form 4 details a routine, reported sale by an officer who is also a director. The filing specifies the exact number of shares sold, the weighted average price, and remaining beneficial ownership, which supports transparency in insider activity. There is no indication in this filing of an acceleration, option exercise, or derivative transactions; it documents a straightforward open-market disposal reported under Section 16.

Securities Analyst

TL;DR: Transaction is disclosed clearly; impact appears neutral absent other material events.

The sale of 22,510 shares at about $90.97 per share is a single-event disclosure. The report includes the price range and notes the weighted average methodology. Without accompanying information on timing motives, rule 10b5-1 plan status, or related transactions by other insiders, this isolated sale provides limited basis to infer substantive change in insider conviction.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Beitel David A.

(Last) (First) (Middle)

C/O ZILLOW GROUP, INC.

1301 SECOND AVENUE, FLOOR 36

(Street)

SEATTLE WA 98101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ZILLOW GROUP, INC. [ Z AND ZG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class C Capital Stock	09/08/2025		S		22,510	D	$90.9708(1)	144,549	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $90.74 to $91.21. 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.

Remarks:

	/s/ Shannon Cartales Attorney-in-Fact	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Zillow Group (ZG) insider David A. Beitel report on Form 4?

He reported selling 22,510 shares of Class C Capital Stock on 09/08/2025 at a weighted average price of $90.9708, leaving 144,549 shares beneficially owned.

What price range were the sold shares transacted at?

The shares were sold in multiple transactions at prices ranging from $90.74 to $91.21, with a weighted average sale price of $90.9708.

Who filed the Form 4 for David A. Beitel and when?

The Form 4 was signed by an attorney-in-fact, Shannon Cartales, and dated 09/10/2025.

Does the Form 4 report any derivative or option transactions for the reporting person?

No. The filing contains only a non-derivative sale of Class C Capital Stock and shows no derivative securities transactions.

Is there any indication this sale was part of a 10b5-1 plan?

The Form 4 does not indicate that the transactions were made pursuant to a 10b5-1 plan.