Owens Bradley D. 4

What Happened Bradley D. Owens, General Counsel of Zillow Group, exercised 8,800 stock options (fully vested) on March 24, 2026 and immediately sold the 8,800 underlying shares in the open market the same day. The exercise cost was $22.41 per share (total $197,208). The shares were sold at a weighted-average price of $43.67 per share for total gross proceeds of $384,320.

Key Details

• Transaction date: March 24, 2026; Form 4 filed March 26, 2026.
• Exercise: 8,800 shares at $22.41 each — $197,208 total (option fully vested and exercisable).
• Sale: 8,800 shares sold at a weighted-average price of $43.67 — $384,320 total. Sales ranged from $43.45 to $44.0350 per share.
• Plan/notes: Sale executed pursuant to a Rule 10b5-1 trading plan adopted August 19, 2025. Reporting shows the derivative (the option) was converted/exercised (reported as a $0 disposition for the derivative instrument).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: no late-filing flag indicated in the excerpt.

Context This was an exercise of vested options followed by an immediate open-market sale (a common cashless-exercise/liquidity action). The sale was done under a pre-established Rule 10b5-1 plan, which is a pre-arranged program that schedules trades and can reduce timing-based interpretation of the sale. This transaction shows insider liquidity rather than a straightforward "buy" signal.