[Form 4] ZILLOW GROUP INC CLASS A Insider Trading Activity
Rhea-AI Filing Summary
Jeremy Hofmann, Chief Financial Officer of Zillow Group, Inc. (Z and ZG), reported multiple sales of Class C capital stock on August 13 and August 15, 2025. The filings show four dispositions: 2,268 shares sold on 08/13/2025 at a weighted average price of $80.7838, 2,713 shares on 08/13/2025 at $82.0025, 186 shares on 08/13/2025 at $82.5408, and 8,168 shares on 08/15/2025 at $85.35, leaving Hofmann with 84,146 Class C shares after the last sale.
The 08/13 sales were to cover tax withholding obligations upon RSU vesting, with weighted-average price ranges disclosed for each batch. The 08/15 sale was executed pursuant to a Rule 10b5-1 trading plan adopted September 4, 2024. The Form 4 was signed by an attorney-in-fact on August 15, 2025.
Positive
- None.
Negative
- None.
Insights
TL;DR: Multiple small insider sales primarily for tax withholding and a Rule 10b5-1 plan indicate routine disposition, not a clear signal of material change.
The transactions are disclosed as sales of vested restricted stock units to satisfy tax withholding and sales under a pre-existing 10b5-1 plan. Total disclosed shares sold equal 13,335 across two reporting dates, with post-sale beneficial ownership of 84,146 Class C shares. The reported prices are weighted averages with ranges provided, which is standard when multiple executions occur. From a governance and disclosure standpoint, the filing is complete and follows required Rule 10b5-1 and Section 16 reporting practices. These actions do not, by themselves, provide evidence of operational or financial deterioration in the company because the stated purposes are routine tax-related settlements and scheduled plan trades.
TL;DR: Insider used approved mechanisms (withholding sales and a 10b5-1 plan), reflecting routine equity management, not necessarily adverse governance developments.
The Form 4 clearly identifies the reporting person as the CFO and discloses the nature of each sale: three tranches sold to cover RSU tax withholding and one tranche sold under a Rule 10b5-1 plan adopted on September 4, 2024. The explanations include weighted-average price ranges and an offer to provide per-trade details on request, which aligns with transparent disclosure practice. No amendments or other unusual items are noted. For investors focused on insider signaling, these are standard equity monetization actions rather than governance red flags.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class C Capital Stock | 8,168 | $85.35 | $697K |
| Sale | Class C Capital Stock | 2,268 | $80.7838 | $183K |
| Sale | Class C Capital Stock | 2,713 | $82.0025 | $222K |
| Sale | Class C Capital Stock | 186 | $82.5408 | $15K |
Footnotes (1)
- Represents shares sold to cover tax withholding due upon vesting of restricted stock units. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $80.325 to $81.27. 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. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $81.49 to $82.435. 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. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $82.515 to $82.565. 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. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 4, 2024.
