Lloyd Frink of Zillow Group (Z) exercises options and sells Class C stock

Rhea-AI Filing Summary

Zillow Group Co-Executive Chairman and President Lloyd D. Frink reported option exercises and related share sales in Class C capital stock. On February 9, 10 and 11, 2026, he exercised stock options for 9,258 shares each day at an exercise price of $22.41 per share.

On each date, Frink then sold portions of the acquired Class C shares in multiple open-market transactions at weighted average prices, with disclosed price ranges from $44.13 to $56.05, under a Rule 10b5-1 trading plan adopted on December 11, 2024. After these transactions, he directly held 2,233,189 Class C shares and indirectly held 697,765 Class C shares through the Frink Descendants' Trust 12/30/04.

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

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

X

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^*

Frink Lloyd D

(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)

X	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Co -Exec. Chairman & President		Co-Founder

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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	02/09/2026		M		9,258	A	$22.41	2,242,447	D
Class C Capital Stock	02/09/2026		S		9,158(1)	D	$54.6281(2)	2,233,289	D
Class C Capital Stock	02/09/2026		S		100(1)	D	$55.17	2,233,189	D
Class C Capital Stock	02/10/2026		M		9,258	A	$22.41	2,242,447	D
Class C Capital Stock	02/10/2026		S		6,658(1)	D	$54.9352(3)	2,235,789	D
Class C Capital Stock	02/10/2026		S		2,600(1)	D	$55.8288(4)	2,233,189	D
Class C Capital Stock	02/11/2026		M		9,258	A	$22.41	2,242,447	D
Class C Capital Stock	02/11/2026		S		3,885(1)	D	$44.7853(5)	2,238,562	D
Class C Capital Stock	02/11/2026		S		3,406(1)	D	$45.4324(6)	2,235,156	D
Class C Capital Stock	02/11/2026		S		734(1)	D	$46.6608(7)	2,234,422	D
Class C Capital Stock	02/11/2026		S		530(1)	D	$48.0898(8)	2,233,892	D
Class C Capital Stock	02/11/2026		S		528(1)	D	$48.9025(9)	2,233,364	D
Class C Capital Stock	02/11/2026		S		100(1)	D	$49.83	2,233,264	D
Class C Capital Stock	02/11/2026		S		75(1)	D	$52.87	2,233,189	D
Class C Capital Stock								697,765	I	Frink Descendants' Trust 12/30/04

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
Stock Option (right to buy)	$22.41	02/09/2026		M			9,258	(10)	03/28/2026	Class C Capital Stock	9,258	$0	74,910	D
Stock Option (right to buy)	$22.41	02/10/2026		M			9,258	(10)	03/28/2026	Class C Capital Stock	9,258	$0	65,652	D
Stock Option (right to buy)	$22.41	02/11/2026		M			9,258	(10)	03/28/2026	Class C Capital Stock	9,258	$0	56,394	D

Explanation of Responses:

1. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2024.

2. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $54.15 to $55.12. 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.

3. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $54.54 to $55.48. 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.

4. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $55.54 to $56.05. 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.

5. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $44.13 to $45.13. 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.

6. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $45.14 to $45.94. 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.

7. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $46.18 to $47.18. 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.

8. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $47.58 to $48.50. 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.

9. The reported price is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $48.63 to $49.11. 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.

10. Option is fully vested and exercisable.

Remarks:

	/s/ Shannon Cartales Attorney-in-Fact	02/11/2026
	** 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 insider transaction did Lloyd D. Frink report at Zillow (Z)?

Lloyd D. Frink reported exercising stock options and selling Zillow Class C shares. On February 9–11, 2026, he exercised 9,258 options per day at $22.41 and sold portions of the resulting shares in multiple open-market trades at weighted average prices within disclosed ranges.

Over what dates did Lloyd D. Frink trade Zillow (Z) Class C stock?

The reported transactions occurred on February 9, 10 and 11, 2026. Each day, Frink exercised 9,258 stock options for Class C capital stock at $22.41 per share and then sold portions of those shares in separate open-market transactions at various weighted average prices.

At what prices did Lloyd D. Frink sell Zillow (Z) Class C shares?

The filing shows weighted average sale prices with ranges between $44.13 and $56.05 per share. Individual sales on February 9–11, 2026 are reported at specific weighted averages, with the footnotes detailing the exact price ranges for the multiple transactions making up each reported average.

How many Zillow (Z) Class C shares does Lloyd D. Frink hold after these transactions?

After the reported transactions, Lloyd D. Frink directly owned 2,233,189 shares of Zillow Class C capital stock. He also indirectly owned 697,765 additional Class C shares through the Frink Descendants' Trust 12/30/04, as disclosed in the ownership table in the filing.

What stock options did Lloyd D. Frink exercise in Zillow (Z)?

Frink exercised stock options described as a stock option (right to buy) with an exercise price of $22.41 per share. On each of February 9, 10 and 11, 2026, he exercised options covering 9,258 Class C shares, from a grant that is fully vested and exercisable.

Were Lloyd D. Frink’s Zillow (Z) share sales under a Rule 10b5-1 plan?

Yes. The filing states that one of the reported sales was effected pursuant to a Rule 10b5-1 trading plan. That plan was adopted by the reporting person on December 11, 2024, and governs the execution of the disclosed share sale transactions described in the footnotes.