Frink Lloyd D 4

What Happened

• Lloyd D. Frink, Co‑Executive Chairman & President and director of Zillow Group (Z / ZG), exercised options to acquire 56,394 shares at $22.41 each (total cost reported $1,263,790) on Feb 20, 2026. On the same day he sold 39,663 shares in open‑market transactions at a weighted average price of $45.29 (total proceeds $1,796,191). The filing also reports a disposition of 56,394 shares as a derivative transaction at $0.00 (see Key Details).

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-23.
• Exercise (code M): 56,394 shares @ $22.41 = $1,263,790.
• Open‑market sale (code S): 39,663 shares @ weighted avg $45.29 = $1,796,191.
• Derivative disposition (code M reported as disposed): 56,394 shares @ $0.00 = $0.
• Sale price range (footnote): shares sold across prices from $45.02 to $45.6050; weighted average reported. Full per‑price breakdown available on request (F1).
• Option status (footnote): option was fully vested and exercisable (F2).
• Shares owned after the transactions: not specified in the summary provided here — see the full Form 4 for the insider’s post‑transaction beneficial ownership.
• Filing timeliness: transaction dated 2/20/2026; Form 4 filed 2/23/2026 (see filing for timeliness determination).

Context

• This was an option exercise followed by partial sale of shares. The reported derivative disposition at $0.00 accompanies the exercise in the filing; consult the full Form 4 for details (it can reflect settlement mechanics such as net‑share settlement or withholding, but the filing itself should be checked for clarification). Purchases (exercises) can indicate insider confidence in value, while sales can be routine or related to exercise settlement — the filing provides the factual record but does not indicate motivation.