Form 4: Zillow CFO Sells Shares to Cover Tax Obligations

Zillow Group's Chief Financial Officer, Jeremy Hofmann, sold a portion of his Class C Capital Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Jeremy Hofmann, the Chief Financial Officer of Zillow Group, Inc., sold 4,224 shares of Class C Capital Stock at a weighted average price of $73.8414 on November 13, 2024.
• He also sold an additional 478 shares of Class C Capital Stock at a weighted average price of $75.0456 on the same day.
• These sales were made to cover tax withholding obligations arising from the vesting of restricted stock units.
• Following these transactions, Mr. Hofmann directly owns 106,537 shares of Class C Capital Stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• Similar transactions are regularly reported by executives at companies like Redfin, Opendoor, and other tech firms.

Stakeholder Impact

• The stock sales have a minimal impact on shareholders as they are routine transactions for tax purposes.

Key Dates

Keywords

Zillow, Jeremy Hofmann, Class C Capital Stock, SEC Form 4, insider trading, stock sale, tax withholding, restricted stock units