Form 4: Zillow General Counsel Sells Shares for Tax Withholding

Zillow Group's General Counsel, Bradley D. Owens, sold 1,897 shares of Class C Capital Stock to cover tax obligations related to restricted stock unit vesting.

Summary

• Bradley D. Owens, General Counsel of Zillow Group, Inc., reported transactions involving Class C Capital Stock.
• On November 12, 2025, Owens sold a total of 1,897 shares of Class C Capital Stock across three separate transactions.
• The sales were executed at weighted average prices of $70.808, $71.6702, and $72.9212 per share.
• These sales were made to cover tax withholding obligations arising from the vesting of restricted stock units.
• Following these transactions, Owens beneficially owns 40,696 shares of Class C Capital Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine, non-discretionary sale of shares by an insider to cover tax obligations upon the vesting of restricted stock units. It does not reflect a change in management's outlook or a strategic shift.

Positives

• The underlying event, the vesting of restricted stock units, indicates that previously granted equity compensation has matured, which is generally a positive for employee retention and motivation.

Negatives

• No direct negatives, as the sale was non-discretionary and for tax purposes, not indicating a lack of confidence in the company.

Future Outlook

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

Industry Context

This is a routine insider transaction for tax purposes and does not provide specific insights into broader industry trends or competitive positioning. Such transactions are common across all industries when restricted stock units vest for executives.

Stakeholder Impact

• Minimal impact on shareholders, as this is a routine, non-discretionary insider transaction for tax purposes.
• Positive for the reporting person, Bradley D. Owens, as it represents the realization of vested equity compensation.

Key Dates

Recommendation

The filing details a routine, non-discretionary sale of shares by an insider to cover tax obligations upon the vesting of restricted stock units. This type of transaction does not reflect a change in management's outlook or a strategic shift, and therefore does not provide a basis for altering an investment recommendation.

Keywords

Zillow, insider transaction, Form 4, stock sale, tax withholding, restricted stock units, Bradley D. Owens, corporate governance