Form 4: Zillow CEO Jeremy Wacksman Sells Shares to Cover Tax Obligations

Zillow Group CEO Jeremy Wacksman sold shares of Class C Capital Stock on August 14 and 16, 2024, to cover tax withholding upon vesting of restricted stock units.

Summary

• Jeremy Wacksman, CEO of Zillow Group, sold shares of Class C Capital Stock on August 14 and 16, 2024.
• The sales were executed in multiple transactions at varying prices.
• On August 14, 2024, 2,492 shares were sold at a weighted average price of $52.5305, and 1,988 shares were sold at a weighted average price of $53.2111.
• On August 16, 2024, 6,576 shares were sold at a weighted average price of $53.0524, and 200 shares were sold at a weighted average price of $53.505.
• The sales were made to cover tax withholding due upon the vesting of restricted stock units.
• The sale of 6,576 shares on August 16, 2024, was effected pursuant to a Rule 10b5-1 trading plan adopted on February 16, 2024.
• Following these transactions, Wacksman directly owns 167,663 shares of Class C Capital Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales for tax purposes, which is neither particularly positive nor negative.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current market information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares, but the effect is likely minimal given the relatively small volume of shares sold.

Key Dates