BARTON RICHARD N 4

What Happened

• Richard N. Barton, reported as a 10% owner of Zillow Group (Z / ZG), exercised options on 2026-02-12 to acquire 300,000 shares at a strike/price of $22.41 per share, a cash outlay of $6,723,000. The same filing also reports a separate entry for 300,000 shares marked as a conversion/disposition of a derivative instrument at $0.00 (no cash value reported).
• Footnote in the filing notes the option is fully vested and exercisable. The filing does not explain the $0.00 disposition entry further.

Key Details

• Transaction date: 2026-02-12 (Period of Report and filing date: 2026-02-12)
• Acquisition: 300,000 shares exercised at $22.41 — total reported cost $6,723,000
• Disposition/Conversion: 300,000 shares reported as derivative disposed at $0.00 — total $0
• Shares owned after transaction: Not specified in the Form 4 filing
• Notable footnote: F1 — option is fully vested and exercisable
• Filing timeliness: Report filed on the same date as the transaction period; no late-filing flag shown

Context

• The primary item is an option exercise (transaction code M). Exercising options to acquire stock involves paying the strike price to convert the option into shares; the filing shows one exercised block with cash paid and a separate derivative/conversion entry with no cash reported. The Form 4 does not specify whether any shares were immediately sold, withheld for taxes, or otherwise net-settled.
• As a 10% owner (not identified here as a named executive), Barton’s activity is reported for regulatory transparency; such filings document ownership changes but do not, by themselves, explain the insider’s motives.