Form 4: Zillow CTO Sells Shares for Tax Obligations

Zillow Group's Chief Technology Officer, David A. Beitel, sold 3,893 shares of Class C Capital Stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• David A. Beitel, Chief Technology Officer of Zillow Group, Inc. (Z and ZG), reported transactions on November 12, 2025.
• Beitel sold a total of 3,893 shares of Zillow Group Class C Capital Stock.
• The sales were executed in multiple transactions at weighted average prices ranging from $70.8074 to $73.6022 per share.
• The purpose of these sales was to cover tax withholding due upon the vesting of restricted stock units.
• Following these transactions, Beitel beneficially owns 140,656 shares of Class C Capital Stock directly.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale to cover tax obligations related to restricted stock unit vesting, which is a neutral event and does not indicate a change in management's sentiment towards the company's future prospects.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction, common for executives whose compensation includes restricted stock units. When these units vest, a portion of the shares is typically sold to cover the associated tax liabilities, rather than being a discretionary sale based on market sentiment.

Stakeholder Impact

• Shareholders: The sale is a routine tax-related event and is unlikely to have a significant impact on shareholder confidence or the company's operational performance.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

The reported transaction is a non-discretionary sale by an executive to cover tax liabilities associated with the vesting of restricted stock units. This is a common and expected event and does not reflect a change in the executive's confidence in the company's fundamentals or future performance. Therefore, it does not provide new information that would warrant a change in an investment recommendation.

Keywords

Zillow Group, Zillow, Form 4, Insider Transaction, Stock Sale, CTO, Equity, Tax Withholding, Restricted Stock Units