[144/A] NetFlix Inc SEC Filing

Rhea-AI Filing Summary

Netflix, Inc. (NFLX) Form 144/A: CFO Spencer Neumann has notified intent to sell up to 2,601 common shares via Morgan Stanley on or about 1 Jul 2025. Based on the filing’s reference price, the trade equals $3.48 million, or just 0.0006 % of the 425.7 million shares outstanding. The shares were acquired the same day through a stock-option exercise.

The notice also lists three prior 10b5-1 sales during the past three months totaling 5,888 shares for roughly $6.88 million. Rule 144 filings disclose proposed sales but execution is not guaranteed; nevertheless, repeated disposals by a key executive can signal modestly bearish sentiment. No operational, earnings or guidance data accompanies the filing.

Positive

• Sale size is immaterial—only 2,601 shares, representing 0.0006 % of outstanding stock, limiting dilution or control impact.
• Transparent Rule 144 compliance provides timely disclosure and aligns with good corporate governance.

Negative

• Continued insider selling by the CFO (≈8,500 shares in three months) can be interpreted as a modestly bearish signal.
• No accompanying business update, leaving investors without context for the executive’s decision to reduce exposure.

Insights

Financial Analyst

TL;DR CFO plans $3.5 m sale; volume tiny vs float. Pattern of insider sales slightly weighs on sentiment, but fundamentals unaffected.

This Form 144/A is routine compliance and covers a minuscule 0.0006 % of shares, so dilution or control concerns are immaterial. That said, the CFO has sold nearly 8,500 shares in three months, suggesting continued profit-taking at elevated valuations. Investors often view insider selling—especially by financial officers—as a mild negative momentum signal, yet academic studies show limited predictive power at such low volumes. Overall market impact should be negligible unless additional, larger sales emerge.

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	3483077.13	425683210	07/01/2025	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	07/01/2025	Exercise of Stock Options	Issuer			2601	07/01/2025	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
10b5-1 Sales Plan for Spencer Neumann 121 Albright Way Los Gatos CA 95032	Common	06/02/2025	2601	3151555.75
Spencer Neumann 121 Albright Way Los Gatos CA 95032	Common	05/06/2025	686	782914.99
10b5-1 Sales Plan for Spencer Neuman 121 Albright Way Los Gatos CA 95032	Common	05/01/2025	2601	2945315.18

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)

FAQ

How many Netflix shares is the CFO planning to sell?

The Form 144/A covers 2,601 common shares with an estimated value of $3.48 million.

What percentage of Netflix’s outstanding stock does this sale represent?

Approximately 0.0006 % of the company’s 425.7 million shares outstanding.

When is the planned sale date for the NFLX shares?

The filing lists an approximate sale date of 1 July 2025.

Has the CFO sold Netflix stock recently?

Yes. Prior 10b5-1 plans show 5,888 shares sold between May and June 2025 for about $6.88 million.

Does this filing include any earnings or guidance information?

No. The Form 144/A solely discloses proposed insider sales; it contains no operational or financial performance data.