<SEC-DOCUMENT>0001057352-15-000072.txt : 20150914
<SEC-HEADER>0001057352-15-000072.hdr.sgml : 20150914
<ACCEPTANCE-DATETIME>20150914163508
ACCESSION NUMBER:		0001057352-15-000072
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20150914
DATE AS OF CHANGE:		20150914
EFFECTIVENESS DATE:		20150914

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COSTAR GROUP INC
		CENTRAL INDEX KEY:			0001057352
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				522091509
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-206929
		FILM NUMBER:		151105818

	BUSINESS ADDRESS:	
		STREET 1:		1331 L STREET NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20005
		BUSINESS PHONE:		2023466500

	MAIL ADDRESS:	
		STREET 1:		1331 L STREET NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20005
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>forms-8forplanamendmentand.htm
<DESCRIPTION>S-8
<TEXT>
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<a name="sC8273786ADAB15AF3A20BE9E6FDA5546"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">As filed with the Securities and Exchange Commission on September 14, 2015 </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Registration No. 333-  </font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font></div><div style="line-height:100%;text-align:left;"><hr></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_________________</font></div><div style="line-height:100%;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:16pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:16pt;font-weight:bold;">FORM S-8</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:13pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:13pt;font-weight:bold;">REGISTRATION STATEMENT</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">UNDER</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">THE SECURITIES ACT OF 1933</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_________________</font></div><div style="line-height:120%;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:19pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:16pt;font-weight:bold;">COSTAR GROUP, INC</font><font style="font-family:inherit;font-size:19pt;font-weight:bold;">.</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;text-align:left;padding-left:480px;text-indent:-384px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:480px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:top;padding-left:168px;"><div style="line-height:120%;text-align:left;font-size:10pt;text-indent:-168px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;&#32;&#32;52-2091509</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:240px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:60px;"><font style="font-family:inherit;font-size:9pt;">(State or other jurisdiction of</font></div></td><td style="vertical-align:top;padding-left:480px;"><div style="line-height:120%;text-align:left;font-size:9pt;text-indent:-480px;"><font style="font-family:inherit;font-size:9pt;">(I.R.S. Employer</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:240px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:60px;"><font style="font-family:inherit;font-size:9pt;">incorporation or organization)</font></div></td><td style="vertical-align:top;padding-left:480px;"><div style="line-height:120%;text-align:left;font-size:9pt;text-indent:-480px;"><font style="font-family:inherit;font-size:9pt;">Identification No.)</font></div></td></tr></table><div style="line-height:100%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">__________________</font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1331 L Street NW</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Washington, DC 20005</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(Address, including zip code, of principal executive offices)</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CoStar Group, Inc.</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amended and Restated Employee Stock Purchase Plan</font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:8pt;">(Full Title of the Plan)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="100%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Andrew C. Florance</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">President and Chief Executive Officer</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CoStar Group, Inc.</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1331 L Street NW</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Washington, DC 20005</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(202) 346-6500</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Fax:  (202) 346-6703</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(Name, address, and telephone number, including area code, of agent for service)</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Securities Exchange Act of 1934. </font></div><div style="line-height:120%;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="60%"></td><td width="40%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;text-align:justify;padding-left:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Large accelerated filer  </font><font style="font-family:Wingdings;font-size:8pt;">x</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;text-align:justify;padding-left:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accelerated filer  </font><font style="font-family:Wingdings;font-size:8pt;">o</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;text-align:justify;padding-left:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Non-accelerated filer  </font><font style="font-family:Wingdings;font-size:8pt;">o</font><font style="font-family:inherit;font-size:9pt;">&#160;(Do not check if a smaller reporting company)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;text-align:justify;padding-left:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Smaller reporting company  </font><font style="font-family:Wingdings;font-size:8pt;">o</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_________________</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><br><div></div><hr style="page-break-after:always"><a name="sC8273786ADAB15AF3A20BE9E6FDA5546"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">CALCULATION OF REGISTRATION  FEE</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td width="20%"></td><td width="20%"></td><td width="20%"></td><td width="20%"></td><td width="20%"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-right:1px solid #000000;border-top:3px double #000000;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title of Securities</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To Be</font></div><div style="padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Registered</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Amount</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To Be</font></div><div style="padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Registered(1)</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Proposed Maximum</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Offering Price Per</font></div><div style="padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Share (2)</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Proposed Maximum</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Aggregate Offering</font></div><div style="padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Price (2)</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:3px double #000000;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Amount of</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Registration</font></div><div style="padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Fee (2)</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Common Stock</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">$.01 par value</font></div></td><td style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:4px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;100,000 shares</font></div></td><td style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:4px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;$175.48</font></div></td><td style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:4px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;$17,548,000</font></div></td><td style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:4px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;$2,040</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><a name="s6698C650085E24AEE8D1BE9E700C0BDD"></a><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(1)  Pursuant to Rule 416 under the Securities Act of 1933, as amended, this Registration Statement also covers an indeterminate number of additional shares as may be issued under the CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan as a result of adjustments to the number of outstanding shares of Common Stock by reason of any recapitalization, stock split, stock dividend or similar transaction. </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(2) Pursuant to Rules 457(c) and (h)(1) under the Securities Act of 1933, as amended, the Registrant has computed the maximum offering price for the 100,000 shares to be registered solely for the purpose of computing the registration fee by reference to the average of the high and low sale prices for the Registrant&#8217;s Common Stock as quoted on the Nasdaq Global Select Market on September 4, 2015.  </font></div><br><div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PART II.  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;padding-left:96px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Explanatory Note</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Registration Statement on Form&#160;S-8 is filed by CoStar Group, Inc., a Delaware corporation (the &#8220;Registrant&#8221; or the &#8220;Company&#8221;), relating to 100,000 shares of the Company&#8217;s Common Stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), issuable under the CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan (the &#8220;Plan&#8221;), which Common Stock is in addition to the 100,000 shares of Common Stock registered on the Company&#8217;s Form S-8 filed on July 11, 2006 (Commission File No. 333-135709) (the &#8220;Prior Registration Statement&#8221;).  The Company is registering 100,000 shares on this Form S-8 because the amendment to the Plan approved by the Company&#8217;s stockholders on June 3, 2015 authorizes the issuance of an additional 100,000 shares under the Plan (the &#8220;Additional Shares&#8221;).</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Registration Statement relates to securities of the same class as that to which the Prior Registration Statement relates and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities.  Pursuant to Instruction E of Form S-8, the contents of the Prior Registration Statement are incorporated herein by reference and made part of this Registration Statement, except as amended hereby. Also pursuant to Instruction E to Form&#160;S-8, the filing fee is being paid only with respect to the 100,000 shares of Common Stock not previously registered.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Item 8.</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;&#32;Exhibits</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:77px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Description</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.1</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Third Amended and Restated Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K filed with the Commission on June 6, 2013).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.2</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Third Amended and Restated Bylaws (Incorporated by referenced to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K filed with the Commission on September 24, 2013)</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.3</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Specimen Common Stock Certificate (Incorporated by reference to Exhibit 4.1 to the Registrant&#8217;s Registration Statement on Form S-4 (Reg. No. 333-174214) filed with the Commission on June 3, 2011). </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.4*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">5.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Opinion of Gibson, Dunn &amp; Crutcher LLP.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">23.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Consent of Independent Registered Public Accounting Firm.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">23.2*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Consent of Gibson, Dunn &amp; Crutcher LLP (Contained in Exhibit 5.1).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">24.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Powers of Attorney (Included in the Signature Pages to the Registration Statement).</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________________</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">* Filed herewith</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s29C6FFB918831EE1D582BE9E70344286"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Washington, District of Columbia, on September 14, 2015.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:192px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">COSTAR GROUP, INC.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:192px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Andrew C. Florance&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div><div style="line-height:120%;text-align:left;text-indent:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Andrew C. Florance</font></div><div style="line-height:120%;text-align:left;text-indent:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Chief Executive Officer and President</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">KNOW ALL PERSONS BY THESE PRESENTS, that each individual whose signature appears below constitutes and appoints Andrew C. Florance and Scott L. Yinger, and each of them, his true and lawful attorneys-in-fact and agents, each acting alone, with full</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">powers of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as might or could be done in person, hereby ratifying and</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">confirming all that said attorneys-in-fact and agents, each acting alone, or any of them, or his or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">SIGNATURE</font></div></td><td style="vertical-align:top;padding-left:462.6666666666667px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-462.6666666666667px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">CAPACITY</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">DATE</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Michael R. Klein      </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chairman of the Board&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Michael R. Klein</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Andrew C. Florance         </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chief Executive Officer, &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Andrew C. Florance&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;President, and a Director</font></div><div style="line-height:120%;text-align:left;padding-left:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#160;&#160;&#160;&#160;(Principal Executive Officer)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Scott L. Yinger           </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Interim Chief Financial Officer   &#160;&#160;&#160;&#160;September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Scott L. Yinger&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(Principal Financial Officer </font></div><div style="line-height:120%;text-align:left;text-indent:276px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and Principal Accounting Officer) </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s29C6FFB918831EE1D582BE9E70344286"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Michael J. Glosserman      </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Michael J. Glosserman</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Warren H. Haber           </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Warren H. Haber</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ John W. Hill           </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">John W. Hill</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Christopher J. Nassetta     </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Christopher J. Nassetta</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ David J. Steinberg           </font></div></td><td style="vertical-align:top;padding-left:384px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-384px;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;September 14, 2015</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">David J. Steinberg</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s0FFD5846A1E95486A6A3BE9E7066E75B"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">INDEX TO EXHIBITS</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:77px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Description</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.1</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Third Amended and Restated Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K filed with the Commission on June 6, 2013).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.2</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Third Amended and Restated Bylaws (Incorporated by referenced to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K filed with the Commission on September 24, 2013)</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.3</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Specimen Common Stock Certificate (Incorporated by reference to Exhibit 4.1 to the Registrant&#8217;s Registration Statement on Form S-4 (Reg. No. 333-174214) filed with the Commission on June 3, 2011). </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">4.4*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">5.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Opinion of Gibson, Dunn &amp; Crutcher LLP.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">23.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Consent of Independent Registered Public Accounting Firm.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">23.2*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Consent of Gibson, Dunn &amp; Crutcher LLP (Contained in Exhibit 5.1).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">24.1*</font></div></td><td style="vertical-align:top;padding-left:96px;"><div style="line-height:120%;text-align:left;font-size:12pt;text-indent:-96px;"><font style="font-family:inherit;font-size:12pt;">&#8212;&#160;&#160;&#160;&#160;Powers of Attorney (Included in the Signature Pages to the Registration Statement).</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________________</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">* Filed herewith</font></div><br><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
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<TYPE>EX-4.4
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<FILENAME>espp-amendedandrestatedtoi.htm
<DESCRIPTION>EXHIBIT 4.4
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<a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit 4.4</font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">COSTAR GROUP, INC.</font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">AMENDED AND RESTATED EMPLOYEE STOCK PURCHASE PLAN</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the purpose of this CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan (&#8220;Plan&#8221;) is to provide eligible employees of CoStar Group, Inc. (the &#8220;Company&#8221;) and certain of its subsidiaries with the opportunity to purchase shares of the Company&#8217;s common stock (&#8220;Common Stock&#8221;) at a 10% discount.    </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Board of Directors initially approved the Plan by unanimous written consent dated effective April 17, 2006. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Stockholders of the Company approved the Plan at the Annual Meeting of Stockholders held on June 8, 2006.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Board of Directors of the Company approved certain amendments to the Plan to clarify certain definitions related to the offering periods and exercise dates and to make certain other administrative changes, all of which amendments are incorporated into the Plan as set forth below.  Further, the Board of Directors of the Company approved certain amendments to the Plan to set forth a maximum number of shares that can be purchased in any offering period, which amendments are incorporated into the Plan as set forth below.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, on April 6, 2015 the Board of Directors of the Company approved an amendment and restatement of the Plan to increase the number of shares available for issuance under the Plan by 100,000 shares, subject to approval by the Stockholders of the Company, which such amendment and restatement is incorporated into this Plan as set forth below.  All references to the &#8220;Plan&#8221; herein refer to the Plan as so amended and restated.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Administration</font><font style="font-family:inherit;font-size:11pt;">.  The Plan will be administered by the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) or by one or more committees or subcommittees appointed by the Board (a &#8220;Committee&#8221;).  The Board or a Committee (in either case, the &#8220;Administrator&#8221;) may delegate to one or more individuals the day-to-day administration of the Plan.  The Administrator shall have full power and authority to promulgate any rules and regulations which it deems necessary or advisable for the proper administration of the Plan, to interpret the provisions and supervise the administration of the Plan, to make factual determinations relevant to Plan entitlements, and to take all action in connection with the administration of the Plan as it deems necessary or advisable, consistent with any delegation from the Board; provided, however, the administration of the Plan shall be consistent with Rule 16b-3 under the Securities Exchange Act of 1934.  The administration, interpretation or application of the Plan by the Administrator shall be final and binding upon all participants and all other persons.  The Company shall pay all expenses incurred in connection with the administration of the Plan.  No Board or Committee member shall be liable for any action or determination made in good faith with respect to the Plan or any Option (as defined in Section 9) granted hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Eligibility</font><font style="font-family:inherit;font-size:11pt;">.  All employees of the Company, including Directors who are employees, and all employees of any subsidiary of the Company (as defined in Section&#160;424(f) of the Internal Revenue Code (the &#8220;Code&#8221;)) designated by the Board or a Committee from time to time (a &#8220;Designated Subsidiary&#8221;), are eligible to participate in the Plan provided that:</font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;">they are customarily employed by the Company or a Designated Subsidiary for more than 20 hours a week and for more than five months in a calendar year; and</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;">they are employees of the Company or a Designated Subsidiary on the applicable Offering Commencement Date (as&#160;defined below).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary; provided that where the period of leave exceeds ninety (90) days and the individual&#8217;s right to reemployment is not guaranteed by statute or by contract, the employment relationship will be deemed to have terminated on the ninety-first (91st) day of such leave.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">No employee may be granted an Option hereunder if such employee, immediately after the Option is granted, owns 5% or more&#160;of the total combined voting power or value of the stock of&#160;the Company or any subsidiary.  For purposes of the preceding sentence, the attribution rules of Section&#160;424(d) of the Code shall apply in determining the stock ownership of an employee, and all stock which the employee has a contractual right to purchase shall be treated as stock owned by the employee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Eligible employees who elect to participate in the Plan are referred to herein as &#8220;participants&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Offering Periods</font><font style="font-family:inherit;font-size:11pt;">.  Each offering period under the Plan will be two weeks beginning on the second Saturday preceding each of the Company&#8217;s regular pay dates (the &#8220;Offering Commencement Date&#8221;) and ending on each of the Company&#8217;s regular pay dates (the &#8220;Offering Period&#8221;); provided, that if the regular pay date of a particular Offering Period falls on a day that is a Company holiday, that Offering Period shall be deemed to end as of the pay date on which regular Compensation (as defined below) is disbursed or paid to employees by the Company during the Offering Period (generally the last business day prior to the regular pay date) (such pay date or the regular pay date during the Offering Period, as applicable, the &#8220;Exercise Date&#8221;) and the applicable Offering Period will be shortened accordingly.  Any such shortening of an Offering Period shall have no effect on the Offering Commencement Date or the duration of previous or subsequent Offering Periods.  For purposes hereof, the term &#8220;pay date&#8221; shall mean the date as of which Compensation is disbursed or paid by the Company to its employees, not the date as of which Compensation is earned; and the term &#8220;regular pay date&#8221; shall mean every other Friday on which the Company typically disburses or pays Compensation to its employees.  During each Offering Period, payroll deductions will be made on behalf of a participant from one or more paychecks paid by the Company to such participant during the Offering Period.  Such payroll deductions will be held for the purchase of Common Stock at the end of the Offering Period.  The Administrator may, at any time and at its discretion, change the frequency and/or duration of Offering Periods with respect to future Offering Periods. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">4.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Participation</font><font style="font-family:inherit;font-size:11pt;">.  An eligible employee may participate in the Plan by completing and forwarding a payroll deduction authorization form to the Company&#8217;s benefits office or by any other method which the Administrator specifies no later than 5:00 p.m., Eastern Time, on the last business day prior to the applicable Offering Commencement Date.  The&#160;payroll deduction authorization form will authorize a regular payroll deduction from the Compensation received by the participant during the Offering Period.  Unless a participant files a new form or withdraws from the Plan, his or her deductions and purchases will continue at the same rate for future Offering Periods under the Plan as long as the Plan remains in effect (subject to Section 11 below).  As used herein, the term </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;Compensation&#8221; means total compensation subject to federal income tax and paid to the participant by the Company, excluding reimbursements or other expense allowances, fringe benefits, relocation expenses, stock-based compensation and severance benefits.&#160; For purposes of the Plan, (a) salary deferrals in connection with participation in the Plan or any other plan or arrangement (such as Section 401(k),&#160;Section 125 or qualified transportation fringe benefit) shall be included as Compensation, and (b) compensation shall be recognized only for the period in which a person is actually an eligible participant of the&#160;Plan.  Further, for purposes of the Plan, references to Compensation disbursed or paid by the Company shall include compensation disbursed or paid by a Designated Subsidiary, as the case may be, and the term &#8220;Company&#8221; in such context shall include any Designated Subsidiary. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">5.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Deductions</font><font style="font-family:inherit;font-size:11pt;">.  The Company will maintain payroll deduction accounts for all participants.  With respect to the Plan, a participant may authorize a payroll deduction in any dollar amount up to a maximum of 15% of the Compensation he or she receives during the Offering Period or such shorter period during which deductions from payroll are made.  Payroll deductions may be made in 1% increments of Compensation, between 1% and 15%, with any change in compensation paid during the Offering Period to result in an automatic corresponding change in the dollar amount withheld as soon as administratively practical.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">6.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Deduction Changes</font><font style="font-family:inherit;font-size:11pt;">.  A participant may increase, decrease or discontinue his or her payroll deduction for a subsequent Offering Period by&#160;filing a new payroll deduction authorization form, or indicating a change by any other method which the Administrator specifies, no later than 5:00 p.m., Eastern Time, on the last business day prior to the applicable Offering Commencement Date.  If a participant elects to discontinue his or her payroll deductions, but does not elect to withdraw his or her funds pursuant to Section&#160;8 below, funds deducted prior to such participant&#8217;s election to discontinue will be applied to the purchase of Common Stock on the Exercise Date.  The Administrator may (i) establish rules limiting the frequency with which participants may change, discontinue and resume payroll deductions under the Plan and may impose a waiting period on participants wishing to resume payroll deductions following discontinuance, and (ii) change the rules regarding discontinuance of participation or changes in participation in the Plan.  Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code, the Administrator may reduce a participant&#8217;s payroll deductions to zero percent (0%) at any time during an Offering Period scheduled to end during the current calendar year.  Payroll deductions shall re-commence at the rate provided in such participant&#8217;s enrollment form at the beginning of the first Offering Period that is scheduled to end in the following calendar year, unless participation in the Plan is discontinued by the participant.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">If a participant has not followed the procedures prescribed by the Administrator to change the rate of payroll deductions or to discontinue the payroll deductions, the rate of payroll deductions shall continue at the properly elected rate in effect until such rate is changed in accordance with Plan procedures.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">7.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Interest</font><font style="font-family:inherit;font-size:11pt;">.  All payroll withholdings hereunder shall be held in the corporate general account.  Interest will not be paid on any participant accounts, except to the extent that the Administrator, in&#160;its sole discretion, elects to credit participant accounts with interest at such per annum rate as it may from time to time determine.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">8.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Withdrawal of Funds</font><font style="font-family:inherit;font-size:11pt;">.  Except as otherwise provided by the Administrator pursuant to Section 6 hereof, a participant may at any time prior to 5:00 p.m., Eastern time, on the fifth business </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;"><font style="font-family:inherit;font-size:11pt;">day prior to the Exercise Date and for any reason permanently draw out the balance accumulated in the participant&#8217;s account and thereby withdraw from participation in an Offering Period by&#160;notifying the Company by whatever method specified by the Administrator.  Partial withdrawals are not permitted.  The participant may not begin participation again during the remainder of the Offering Period.  The participant may participate in any subsequent Offering Period in accordance with terms and conditions established by the Administrator.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">9.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Purchase of Shares</font><font style="font-family:inherit;font-size:11pt;">.  On the Offering Commencement Date of each Offering Period, the Company will grant to each eligible employee who is then a participant in the Plan an option (the &#8220;Option&#8221;) to purchase whole shares of Common Stock of the Company on the Exercise Date at the Option Price hereinafter provided for.</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Notwithstanding the above, no participant may be granted an Option which permits his or her rights to purchase Common Stock under this Plan and any other employee stock purchase plan (as defined in Section 423(b) of the Code) of the Company and its subsidiaries, to exceed the lesser of (a) $25,000 of the fair market value of such Common Stock (determined as of each Offering Commencement Date) for each calendar year in which the Option is outstanding at any time or (b) 100,000 shares of Common Stock (determined as of each Offering Commencement Date) in any Offering Period. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The price for each share purchased under the Plan will be 90% of the closing price of the Common Stock on the Exercise Date, rounded to the nearest $0.01 (the &#8220;Option Price&#8221;).  Such closing price shall be (a)&#160;the closing price on any national securities exchange on which the Common Stock is listed, (b)&#160;the closing price of the Common Stock on the Nasdaq Global or Global Select Market or (c)&#160;the average of the closing bid and asked prices in the over-the-counter-market, whichever is applicable, as published in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">The Wall Street Journal</font><font style="font-family:inherit;font-size:11pt;">.  If no sales of Common Stock were made on such day, the price of the Common Stock for purposes of clauses&#160;(a) and (b) above shall be the reported price for the next preceding day on which sales were made.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Unless an employee withdraws from participation prior to the Exercise Date pursuant to the terms hereof, each such employee who is a participant in the Plan on the Offering Commencement Date shall be deemed to have exercised his or her Option at the Option Price on the Exercise Date and shall be deemed to have purchased from the Company the number of full shares of Common Stock reserved for the purpose of the Plan that his or her accumulated payroll deductions as of the Exercise Date will pay for, but not in excess of the maximum number determined in the manner set forth above. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Any balance remaining in a participant&#8217;s payroll deduction account at the end of an Offering Period will be automatically refunded to the participant, except that any balance which is less than the purchase price of one share of Common Stock will be carried forward into the participant&#8217;s payroll deduction account for the Plan, except that if the participant requests a refund of the residual, in accordance with procedures established by the Administrator, or if the participant terminates his or her employment, the balance shall then be refunded. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Issuance of Shares</font><font style="font-family:inherit;font-size:11pt;">.  Shares of Common Stock purchased under the Plan may be issued only in the name of the participant, in the name of the participant and another person of legal age as joint tenants with rights of survivorship, or (in the Company&#8217;s sole discretion) in the name of a brokerage firm, bank or other nominee holder designated by the participant.  The Company </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">may, in its sole discretion and in compliance with applicable laws, authorize the use of book entry registration of shares.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Rights on Retirement, Death or Termination of Employment</font><font style="font-family:inherit;font-size:11pt;">.  In the event of a participant&#8217;s termination of employment for any reason (including death), the participant&#8217;s participation in the Plan shall terminate effective as of the Offering Commencement Date immediately following such termination, and after the Exercise Date of the Offering Period during which such participant&#8217;s employment was terminated no payroll deduction shall be taken from any pay due and owing to such participant and the balance in the participant&#8217;s account shall be paid to the participant or, in the event of the participant&#8217;s death, (a)&#160;to a beneficiary previously designated in a revocable notice signed by the participant (with any spousal consent required under state law) or (b)&#160;in the absence of such a designated beneficiary, to the executor or administrator of the participant&#8217;s estate or (c)&#160;if no such executor or administrator has been appointed to the knowledge of the Company, to such other person(s) as the Company may, in its discretion or as may be required under applicable law, designate.  In the event that the Designated Subsidiary by which a participant is employed shall cease to be a subsidiary of the Company or the participant is transferred to a&#160;subsidiary of the Company that is not a Designated Subsidiary, the participant shall be deemed to have terminated employment as of the date of such action, and, as set forth above, the participant&#8217;s participation in the Plan shall terminate effective as of the Offering Commencement Date immediately following such termination.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Optionees Not Stockholders; No Enlargement of Employee Rights</font><font style="font-family:inherit;font-size:11pt;">.  Neither the granting of an&#160;Option to a participant nor the deductions from his or her pay shall constitute such participant a stockholder of the shares of Common Stock covered by an Option under this Plan until such shares have been purchased by and issued to him or her.  In addition, nothing contained in this Plan shall be deemed to give any participant the right to be retained in the employ of the Company or of the Designated Subsidiary or to interfere with the right of the Company or the Designated Subsidiary to discharge any participant at any time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Rights Not Transferable</font><font style="font-family:inherit;font-size:11pt;">.  Rights under this Plan and Options granted under this Plan are not transferable by a participant other than by will or the laws of descent and distribution, and are exercisable during the participant&#8217;s lifetime only by the participant.  If a participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interests under the Plan, other than as permitted by the Code, such act shall be treated as an election by the Participant to discontinue participation in the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Use of Funds</font><font style="font-family:inherit;font-size:11pt;">.  All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Adjustment in Case of Changes Affecting Common Stock</font><font style="font-family:inherit;font-size:11pt;">.  If the outstanding shares of Common Stock are increased or decreased, or are changed into or are exchanged for a different number or kind of shares, as a result of one or more reorganizations, restructurings, recapitalizations, reclassifications, stock splits, reverse stock splits, stock dividends or the like, upon authorization of the Board or the Committee, the Board may make appropriate adjustments in the number and/or kind of shares, and the per-share exercise price thereof, which may be issued in the aggregate and to any participant upon exercise of Options granted under the Plan.  The Board&#8217;s determinations under this Section 15 shall be conclusive and binding on all parties.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Merger</font><font style="font-family:inherit;font-size:11pt;">.  If the Company shall at any time merge or consolidate with another corporation and the holders of the capital stock of the Company immediately prior to such merger or&#160;consolidation continue to hold at least 51% by voting power of&#160;the capital stock of the surviving corporation (&#8220;Continuity of&#160;Control&#8221;), the holder of each Option then outstanding will thereafter be entitled to receive at the next Exercise Date upon the exercise of such Option for each share as to which such Option shall be exercised the same securities or property to which a holder of one share of the Common Stock was entitled upon and at the time of such merger or consolidation, and the Administrator shall take such steps in connection with such merger or consolidation as the Administrator shall deem necessary to assure that the provisions of Section&#160;15 shall thereafter be applicable, as nearly as reasonably may be, in relation to the said securities or property as to which such holder of such Option might thereafter be entitled to receive thereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In the event of a merger or consolidation of the Company with or into another corporation which does not involve Continuity of Control, or of a sale of all or substantially all of the assets of the Company while unexercised Options remain outstanding under the Plan, (i)&#160;subject to the provisions of clauses (ii)&#160;and (iii), after the effective date of such transaction, each holder of an outstanding Option shall be entitled, upon exercise of such Option, to receive in lieu of shares of Common Stock, shares of such stock or other securities as the holders of shares of Common Stock received pursuant to the terms of such transaction; or (ii)&#160;all outstanding Options may be cancelled by the Administrator as of a date prior to the effective date of any such transaction and all payroll deductions shall be paid out to the participants; or (iii)&#160;all outstanding Options may be cancelled by the Administrator as of the effective date of any such transaction, provided that notice of such cancellation shall be given to each holder of an Option, and each holder of an Option shall have the right to exercise such Option in full based on payroll deductions then credited to his or her account as of a date determined by the Board or a Committee, which date shall not be less than three (3) business days preceding the effective date of such transaction.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment of the Plan</font><font style="font-family:inherit;font-size:11pt;">.  The Board may at any time, and from time to time, amend this Plan in any respect, except that (i)&#160;if the approval of any such amendment by the stockholders of the Company is required by Section 423 of the Code, such amendment shall not be effected without such approval, and (ii)&#160;in no event may any amendment be made which would cause the Plan to fail to comply with Section&#160;423 of the Code.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Insufficient Shares</font><font style="font-family:inherit;font-size:11pt;">.  In the event that the total number of shares of Common Stock specified in elections to be purchased during any Offering Period plus the number of shares purchased during previous Offering Periods under this Plan exceeds the maximum number of shares issuable or available under this Plan, the Administrator will allot the shares then available on a pro rata basis. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Termination of the Plan</font><font style="font-family:inherit;font-size:11pt;">.  This Plan may be terminated at any time by the Board.  Upon termination of this Plan all amounts in the accounts of participants shall be promptly refunded.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Governmental Regulations</font><font style="font-family:inherit;font-size:11pt;">.  The Company shall have no obligation to&#160;sell and deliver shares of Common Stock under this Plan unless and until (i) it has taken all actions required to register the shares of Common Stock under the Securities Act of 1933; (ii) any applicable listing requirement of any stock exchange or the Nasdaq Global or Global Select Market (to the extent the Common Stock is then so listed or quoted) for the Common Stock is met; and (iii) all other applicable provisions of state and federal law have been satisfied.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s473093BA63CFCCD01DC9BEA2C3EF141A"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">12.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:11pt;">.  The Plan shall be governed by Maryland law except to the extent that such law is preempted by federal law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">13.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Available Shares</font><font style="font-family:inherit;font-size:11pt;">.  Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source.  A maximum of 200,000 shares (subject to adjustment as set forth in Section 15) shall be available for issuance under the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">14.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Notification Upon Sale of Shares</font><font style="font-family:inherit;font-size:11pt;">.  Each participant agrees, by entering the Plan, to promptly give the Company notice of any disposition of shares purchased under the Plan where such disposition occurs within two years after the Exercise Date as of which such shares were purchased (the deemed date of grant pursuant to the Code).  As a condition to the exercise of an Option, the Company may require the participant exercising such Option to represent and warrant at the time of any such exercise that the shares of Common Stock are being purchased only for investment and without any present intention to sell or distribute such shares of Common Stock if such a representation is required by applicable law.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">15.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Withholding</font><font style="font-family:inherit;font-size:11pt;">. Each participant shall, no later than the date of the event creating the tax liability, make provision satisfactory to the Administrator for payment of any taxes required by law to be withheld in connection with any transaction related to Options granted to or shares acquired by such participant pursuant to the Plan.  The Company may deduct, to the extent permitted by law, any such taxes from any payment of any kind otherwise due to a participant.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">16.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effective Date and Approval of Shareholders</font><font style="font-family:inherit;font-size:11pt;">.  The Plan shall be effective July 1, 2006, subject, however, to approval of the Plan by the stockholders of the Company as required by Section&#160;423 of the Code, which stockholder approval must occur within twelve months of the adoption of the Plan by the Board.  No Option granted under this Plan may be exercised unless or until such stockholder approval has been obtained.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Amended and Restated by the Board of Directors effective April 6, 2015</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Amendment and Restatement approved by the stockholders on June 3, 2015</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div>	</body>
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<TYPE>EX-5.1
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<FILENAME>gdcs-8esppopinion.htm
<DESCRIPTION>EXHIBIT 5.1
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<a name="s77CADC120CC724AC540EBEA5A78E462D"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 5.1</font></div></div><br><div style="line-height:120%;padding-top:16px;text-align:left;"><img src="gdcs8esppopinionimage1.gif" style="height:64px;width:622px;"></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">September 14, 2015</font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:624px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C 19486-00001</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CoStar Group, Inc.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1331 L Street NW</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Washington, DC 20005</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Re:</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;&#160;&#160;&#160;CoStar Group, Inc. Registration Statement on Form S-8</font></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have examined the Registration Statement on Form S-8 (the &#8220;Registration Statement&#8221;), of CoStar Group, Inc., a Delaware corporation (the &#8220;Company&#8221;), filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) pursuant to the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), in connection with the offering by the Company of up to 100,000 additional shares of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;Shares&#8221;).  The Shares subject to the Registration Statement are to be issued under the Company&#8217;s Amended and Restated Employee Stock Purchase Plan (the &#8220;Plan&#8221;).</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have examined the Plan and the originals, or photostatic or certified copies, of such records of the Company and certificates of officers of the Company and of public officials and such other documents as we have deemed relevant and necessary as the basis for the opinions set forth below.  In our examination, we have assumed the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as copies.  We have also assumed that there are no agreements or understandings between or among the Company and any participants in the Plan that would expand, modify or otherwise affect the terms of the Plan or the respective rights or obligations of the participants thereunder.  Finally, we have assumed the accuracy of all other information provided to us by the Company during the course of our investigations, on which we have relied in issuing the opinion expressed below.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based upon the foregoing examination and in reliance thereon, and subject to the assumptions and limitations stated herein and in reliance on statements of fact contained in the documents that we have examined, we are of the opinion that the Shares, when issued and sold in accordance with the terms set forth in the Plan and against payment therefor, and when the Registration Statement has become effective under the Securities Act, will be validly issued, fully paid and non-assessable.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This opinion is limited to the effect of the current state of the Delaware General Corporation Law and the facts as they currently exist.  We assume no obligation to revise or supplement this opinion in the event of future changes in such laws or the interpretation thereof or such facts.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We consent to the filing of this opinion as an exhibit to the Registration Statement.  In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations of the Commission.</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Very truly yours,</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Gibson, Dunn &amp; Crutcher LLP</font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
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<TYPE>EX-23.1
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<a name="s6F8D67EFE227227732ECBEA20068240B"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 23.1</font></div></div><br><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Consent of Independent Registered Public Accounting Firm</font></div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We consent to the incorporation by reference in the Registration Statement Number 333-     on Form S-8 pertaining to the CoStar Group, Inc. Amended and Restated Employee Stock Purchase Plan of our reports dated February 26, 2015, with respect to the consolidated financial statements and schedule of CoStar Group, Inc. and the effectiveness of internal control over financial reporting of CoStar Group, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2014, filed with the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Ernst &amp; Young, LLP</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">McLean, Virginia</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">September 14, 2015</font></div><div style="line-height:138%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:138%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
