[144/A] NetFlix Inc SEC Filing

Rhea-AI Filing Summary

Netflix Inc. (NFLX) has filed a Form 144/A indicating a proposed sale of 2,601 common shares (approx. market value $3.14 million) through Morgan Stanley Smith Barney on or around 06/02/2025. The filing lists 425,683,210 shares outstanding, so the new sale represents roughly 0.0006 % of total shares.

The seller, Spencer Neumann (address provided), has been an active insider seller: the document details four prior sales over the last three months totaling 8,489 shares for gross proceeds of about $8.68 million, largely executed under Rule 10b5-1 trading plans. The upcoming transaction also stems from an option exercise on 06/02/2025 paid in cash.

Because the volume is immaterial relative to float and the trades are disclosed under a pre-existing plan, the filing is routine and unlikely to affect fundamentals, but it continues a pattern of monthly insider sales that investors may monitor for sentiment.

Insights

Equity Analyst

TL;DR: Small, planned sale; negligible to valuation.

The 2,601-share sale equals ~0.0006 % of NFLX’s float and follows similar 10b5-1 sales. Dollar values seem large ($3.1 M), but scale is trivial versus Netflix’s >$250 B market cap. No operational data, guidance change, or red flag is disclosed. Thus, the filing is neutral for valuation; only sentiment watchers might note the continuing insider supply.

Governance & Risk Specialist

TL;DR: Repeated insider selling merits observation, but plan-based.

Consistent monthly disposals via a Rule 10b5-1 plan signal pre-scheduled diversification rather than opportunistic selling. Transparency is high; representations affirm no undisclosed adverse information. Risk profile remains unchanged, though trend monitoring is prudent.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144/A

144/A: Filer Information

Filer CIK
Filer CCC
Previous Accession Number Of The Filing
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144/A: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144/A: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services, 1 New York Plaza,8th Floor, New York NY 10004	2601	3140005.23	425683210	06/02/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144/A: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/02/2025	Exercise of Stock Options	Issuer			2601	06/02/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144/A: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	05/06/2025	686	782914.99
10b5-1 Sales for SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	05/01/2025	2601	2945315.18
10b5-1 Sales for SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	04/01/2025	2601	2397385.14
10b5-1 Sales for SPENCER NEUMANN 121 Albright Way, Los Gatos CA 95032	Common	03/03/2025	2601	2554317.25

144/A: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)