Form 4: Zillow Director Exercises Options, Sells Class C Stock

Zillow Group Director April Underwood exercised stock options and subsequently sold a portion of her Class C Capital Stock for a profit.

Summary

• April Underwood, a Director of Zillow Group, Inc., engaged in transactions involving Class C Capital Stock.
• On September 8, 2025, she exercised options to acquire 1,679 shares of Class C Capital Stock at $34.42 per share.
• On the same date, she exercised options to acquire an additional 1,700 shares of Class C Capital Stock at $35.39 per share.
• Following these exercises, she sold 3,621 shares of Class C Capital Stock at a weighted average price of $90.1153 per share.
• The sale price for the disposed shares ranged from $90.1018 to $90.1451.
• After these transactions, April Underwood directly beneficially owns 483 shares of Class C Capital Stock and 8,122 stock options.
• The stock options exercised were fully vested and exercisable.

Sentiment

Score: 6

Explanation: Neutral to slightly positive for the insider due to profit realization, neutral for the company as it's a routine insider transaction under a 10b5-1 plan, not indicative of new company-specific news.

Positives

• The reporting person realized a significant profit by selling shares at an average price of $90.1153 after exercising options at $34.42 and $35.39.
• The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged, non-discretionary sale.

Negatives

• A director selling shares, even under a pre-arranged plan, could be perceived negatively by some investors, though it is a common practice for option exercises and diversification.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minor impact as it's a routine insider transaction, potentially signaling a director monetizing vested equity. No significant change in company fundamentals or strategy is implied.

Key Dates

Keywords

Zillow Group, Z, ZG, April Underwood, Insider Trading, Form 4, Stock Options, Share Sale, Director Transaction, Equity Compensation