Form 4: Zillow CEO Sells Shares for Tax, 10b5-1 Plan

Zillow Group CEO Jeremy Wacksman reported sales of Class C Capital Stock totaling 18,401 shares for tax obligations and a pre-arranged trading plan.

Summary

• Zillow Group CEO Jeremy Wacksman reported multiple sales of Class C Capital Stock.
• A total of 18,401 shares were sold across two transaction dates: November 12, 2025, and November 14, 2025.
• Sales on November 12, 2025, totaling 7,546 shares, were executed to cover tax withholding obligations upon the vesting of restricted stock units, with weighted average prices ranging from $70.812 to $73.6256.
• An additional 10,855 shares were sold on November 14, 2025, at a weighted average price of $69.9893, pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025.
• Following these transactions, Wacksman beneficially owns 134,712 shares of Class C Capital Stock.

Sentiment

Score: 5

Explanation: The filing reports routine insider sales for tax purposes and a pre-scheduled 10b5-1 plan, which are neutral events and do not indicate a change in company fundamentals or management's confidence.

Stakeholder Impact

• Shareholders may observe a slight reduction in insider ownership, but the nature of the sales (tax withholding, 10b5-1 plan) suggests no material change in management's long-term view or company strategy.

Key Dates

Recommendation

The reported insider sales are routine, primarily for tax obligations and a pre-scheduled 10b5-1 plan. These types of transactions are common for executives and generally do not signal a change in the company's fundamental outlook or warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as this filing provides no new material information to alter an existing investment thesis.

Keywords

Zillow Group, Zillow, ZG, Insider Trading, Form 4, Jeremy Wacksman, Stock Sale, 10b5-1 Plan, Class C Capital Stock