Business Context and Reporting Period
This Form 8-K Current Report was filed by Zillow Group, Inc. on May 3, 2019, covering an event that occurred on May 2, 2019. The filing addresses a change in the compensatory arrangements for a senior executive.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation adjustments rather than financial performance results.
Material Changes
The Board of Directors' compensation committee approved the termination of the annual incentive bonus arrangement for Greg Schwartz, President of Media and Marketplaces. Previously, Mr. Schwartz was eligible for semi-annual cash bonuses based on Company revenue exceeding pre-established targets. Under the new arrangement, the committee retains discretion to award cash bonuses based on factors including the performance of the Internet, Media and Technology and Mortgages reporting segments.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding risks and uncertainties that could cause actual results to differ from anticipated outcomes. It references the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended December 31, 2018, for additional details. The Company states it does not undertake a duty to update this information unless required by law.
Key Facts for Investor Verification
- Greg Schwartz's bonus structure shifted from a formula based on total Company revenue to a discretionary model.
- The new compensation criteria may include performance metrics specific to the Internet, Media and Technology and Mortgages segments.
- The change was approved by the compensation committee on May 2, 2019.
- No financial performance data is contained within this specific filing.