Jay C. Hoag - 13 Feb 2026 Form 4 Insider Report for ZILLOW GROUP, INC. (ZG)

Role: Director
Signature: /s/ Frederic D. Fenton Authorized signatory for Jay C. Hoag
Issuer symbol: ZG
Transactions as of: 13 Feb 2026
Net transactions value: +$361,279
Form type: 4
Filing time: 18 Feb 2026, 18:33:03 UTC
Previous filing: 03 Feb 2026
Next filing: 03 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Hoag Jay C	Director	250 MIDDLEFIELD ROAD, MENLO PARK	/s/ Frederic D. Fenton Authorized signatory for Jay C. Hoag	18 Feb 2026	0001082906

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZG	Class C Capital Stock	Options Exercise	$361,279	+16,835	+268%	$21.46	23,125	13 Feb 2026	Direct	F1
holding	ZG	Class C Capital Stock						1,946,114	13 Feb 2026	TCV VIII, L.P.	F2
holding	ZG	Class C Capital Stock						524,804	13 Feb 2026	TCV VIII (A) Mariner, L.P.	F3
holding	ZG	Class C Capital Stock						120,869	13 Feb 2026	TCV VIII (B), L.P.	F4
holding	ZG	Class C Capital Stock						758	13 Feb 2026	TCV VIII Management, L.L.C.	F5
holding	ZG	Class C Capital Stock						309,792	13 Feb 2026	TCV Member Fund, L.P.	F6
holding	ZG	Class C Capital Stock						2,157,155	13 Feb 2026	TCV IX, L.P.	F7
holding	ZG	Class C Capital Stock						608,672	13 Feb 2026	TCV IX (A) Opportunities, L.P.	F8
holding	ZG	Class C Capital Stock						115,208	13 Feb 2026	TCV IX (B), L.P.	F9
holding	ZG	Class C Capital Stock						1,349	13 Feb 2026	TCV IX Management, L.L.C.	F5
holding	ZG	Class C Capital Stock						1,525,612	13 Feb 2026	TCV XI, L.P.	F10
holding	ZG	Class C Capital Stock						484,217	13 Feb 2026	TCV XI (A), L.P.	F11
holding	ZG	Class C Capital Stock						107,930	13 Feb 2026	TCV XI (B), L.P.	F12
holding	ZG	Class C Capital Stock						114,536	13 Feb 2026	TCV XI (Lux), SCSp	F13
holding	ZG	Class C Capital Stock						719	13 Feb 2026	TCV XI Management, L.L.C.	F5
holding	ZG	Class C Capital Stock						105,741	13 Feb 2026	TCV XI Member Fund, L.P.	F14
holding	ZG	Class C Capital Stock						58,098	13 Feb 2026	Hoag Family Trust, U/A DTD 08/02/1994	F15

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZG	Stock Option (right to buy)	Options Exercise	$0	-16,835	-100%	$0.000000	0	13 Feb 2026	Class C Capital Stock	16,835	$21.46	Direct	F16

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Jay C. Hoag has sole dispositive power over 6,290 of these shares. However, although he holds an additional 16,835 shares, TCV VIII Management, L.L.C. has a right to 100% of the pecuniary interest in these 16,835 shares. Mr. Hoag is a member of TCV VIII Management, L.L.C. Mr. Hoag disclaims beneficial ownership of such 16,835 shares except to the extent of his pecuniary interest therein.
F2	These shares are directly held by TCV VIII, L.P. ("TCV VIII"). Jay C. Hoag is a Class A Member and Class A Director of Technology Crossover Management VIII, Ltd. ("Management VIII") and a limited partner of Technology Crossover Management VIII, L.P. ("TCM VIII"). Management VIII is the sole general partner of TCM VIII, which in turn is the sole general partner of TCV VIII. Mr. Hoag may be deemed to beneficially own the shares held by TCV VIII but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F3	These shares are directly held by TCV VIII (A) Mariner, L.P. ("TCV Mariner A"). Jay C. Hoag is a Class A Member and Class A Director of Management VIII and a limited partner of TCM VIII. Management VIII is the sole general partner of TCM VIII, which in turn is the sole general partner of TCV VIII (A), L.P., which in turn is sole shareholder of TCV VIII (A) Mariner, Ltd., which in turn is the sole limited partner of TCV Mariner A. Mr. Hoag may be deemed to beneficially own the shares held by TCV Mariner A but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F4	These shares are directly held by TCV VIII (B), L.P. ("TCV VIII (B)"). Jay C. Hoag is a Class A Member and Class A Director of Management VIII and a limited partner of TCM VIII. Management VIII is the sole general partner of TCM VIII, which in turn is the sole general partner of TCV VIII (B). Mr. Hoag may be deemed to beneficially own the shares held by TCV VIII (B) but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F5	Jay C. Hoag is a Member of TCV VIII Management, L.L.C., TCV IX Management, L.L.C and TCV XI Management, L.L.C. Mr. Hoag disclaims beneficial ownership of the shares held by each entity except to the extent of his pecuniary interest therein.
F6	These shares are directly held by TCV Member Fund, L.P. ("Member Fund"). Jay C. Hoag is a limited partner of Member Fund and a Class A Member and Class A Director of Management VIII and Technology Crossover Management IX, Ltd. ("Management IX"). Each of Management VIII and Management IX is a general partner of Member Fund. Mr. Hoag may be deemed to beneficially own the shares held by Member Fund but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F7	These shares are directly held by TCV IX, L.P. ("TCV IX"). Jay C. Hoag is a Class A Member and Class A Director of Management IX and a limited partner of Technology Crossover Management IX, L.P. ("TCM IX"). Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX. Mr. Hoag may be deemed to beneficially own the shares held by TCV IX, but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F8	These shares are directly held by TCV IX (A) Opportunities, L.P. ("TCV IX A Opportunities"). Jay C. Hoag is a Class A Member and Class A Director of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX, which in turn is sole shareholder of TCV IX (A) Opportunities, Ltd., which in turn is the sole limited partner of TCV IX A Opportunities. Mr. Hoag may be deemed to beneficially own the shares held by TCV IX A Opportunities but disclaims beneficial ownership of such shares except to the except of his pecuniary interest therein.
F9	These shares are directly held by TCV IX (B), L.P. ("TCV IX (B)"). Jay C. Hoag is a Class A Member and Class A Director of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX (B). Mr. Hoag may be deemed to beneficially own the shares held by TCV IX (B) but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F10	These shares are directly held by TCV XI, L.P. ("TCV XI"). Jay C. Hoag is a Class A Member and Class A Director of Technology Crossover Management XI, Ltd. ("Management XI") and a limited partner of Technology Crossover Management XI, L.P. ("TCM XI"). Management XI is the sole general partner of TCM XI, which in turn is the sole general partner of TCV XI. Mr. Hoag may be deemed to beneficially own the shares held by TCV XI but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F11	These shares are directly held by TCV XI (A), L.P. ("TCV XI (A)"). Jay C. Hoag is a Class A Member and Class A Director of Management XI and a limited partner of TCM XI. Management XI is the sole general partner of TCM XI, which in turn is the sole general partner of TCV XI (A). Mr. Hoag may be deemed to beneficially own the shares held by TCV XI (A) but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F12	These shares are directly held by TCV XI (B), L.P. ("TCV XI (B)"). Jay C. Hoag is a Class A Member and Class A Director of Management XI and a limited partner of TCM XI. Management XI is the sole general partner of TCM XI, which in turn is the sole general partner of TCV XI (B). Mr. Hoag may be deemed to beneficially own the shares held by TCV XI (B) but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein
F13	These shares are directly held by TCV XI (Lux), SCSp ("TCV XI Lux"). Jay C. Hoag is a Class A Member and Class A Director of Management XI. Management XI is the sole shareholder of Technology Crossover Management XI, S.a r.l. ("TCM XI Sarl"), which is in turn the managing general partner of TCV XI Lux. Mr. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F14	These shares are directly held by TCV XI Member Fund, L.P. ("TCV XI Member Fund"). Mr. Hoag is a Class A Member and Class A Director of Management XI and a limited partner of TCV XI Member Fund. Management XI is the sole general partner of TCV XI Member Fund. Mr. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F15	These shares are directly held by The Hoag Family Trust U/A DTD 08/02/1994. Jay C. Hoag is a trustee of The Hoag Family Trust U/A DTD 08/02/1994. Mr. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F16	Jay C. Hoag has sole voting and dispositive power over the options he holds directly. However, TCV VIII Management, L.L.C. has a right to 100% of the pecuniary interest in such options. Mr. Hoag is a Member of TCV VIII Management, L.L.C. Mr. Hoag disclaims beneficial ownership of such options and the shares to be received upon the exercise of such options except to the extent of his pecuniary interest therein.