Form 4: Zillow CFO Jeremy Hofmann Sells Shares to Cover Tax Obligations

Zillow Group's CFO, Jeremy Hofmann, sold shares of Class C Capital Stock to cover tax withholding obligations and pursuant to a pre-arranged trading plan.

Summary

• Jeremy Hofmann, CFO of Zillow Group, Inc., reported the sale of Class C Capital Stock on February 13, 2025, and February 18, 2025.
• On February 13, 2025, Hofmann sold 4,407 shares at a weighted average price of $77.6775 and 300 shares at a weighted average price of $78.255.
• On February 18, 2025, Hofmann sold 7,171 shares at $79.97.
• The sales were conducted to cover tax withholding obligations upon the vesting of restricted stock units and pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2024.
• Following these transactions, Hofmann directly owns 87,484 shares of Class C Capital Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales by an executive, which is a routine occurrence. The sales were partly to cover tax obligations and executed under a pre-existing trading plan.

Positives

• The sales were partly to cover tax obligations related to vesting restricted stock units, which is a common practice.
• The sale on February 18, 2025, was executed under a pre-existing Rule 10b5-1 trading plan established on September 4, 2024, which suggests the sales were planned and not based on immediate market conditions.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. It is important to consider the context of these sales, such as whether they are part of a pre-planned trading strategy or related to personal financial needs.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders if they interpret the sales negatively, although the existence of a 10b5-1 plan mitigates this concern.
• The sales do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates