Form 4: Zillow Group General Counsel Bradley D. Owens Reports Stock and Option Awards

Bradley D. Owens, General Counsel of Zillow Group, reports the acquisition of restricted stock units and stock options.

Summary

• On March 7, 2024, Bradley D. Owens, General Counsel of Zillow Group, acquired 27,273 shares of Class C Capital Stock.
• These shares were granted as restricted stock units.
• Owens also acquired options to purchase 81,816 shares of Class C Capital Stock at an exercise price of $55.94.
• Following these transactions, Owens beneficially owns 41,567 shares of Class C Capital Stock and options for 81,816 shares.
• The restricted stock units vest in 1/16th increments quarterly.
• The stock options also vest in 1/16th increments quarterly, beginning May 15, 2024, and expire on March 7, 2034.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral-positive event.

Positives

• The grant of restricted stock units and stock options aligns the General Counsel's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the granted equity.

Industry Context

Equity compensation is a common practice in the tech industry to attract and retain talent, aligning employee incentives with company performance.

Comparison to Industry Standards

• Equity grants are a standard component of compensation packages for executives in publicly traded companies, particularly in the technology sector.
• Companies like Redfin and Opendoor, which are Zillow's competitors, also use stock options and restricted stock units as part of their executive compensation packages.
• The vesting schedules described are typical, with quarterly vesting being a common practice.

Stakeholder Impact

• The equity grants incentivize the General Counsel to contribute to the long-term success of the company, benefiting shareholders.
• Employees may view the equity grants as a positive sign of the company's commitment to its leadership.

Key Dates