Netflix Co-CEO plans $2.3M stock sale per Form 144 filing

Rhea-AI Filing Summary

Netflix, Inc. (NFLX) Form 144 filing: Co-CEO Gregory K. Peters has filed to sell up to 2,026 common shares through Merrill Lynch on or after 08/05/2025. The proposed transaction is valued at $2.344 million based on the market price supplied in the notice. Netflix has 424.9 million shares outstanding, making the contemplated sale immaterial to the float.

The filing also discloses that Peters sold 2,027 shares on 05/06/2025 for $2.314 million. All shares originate from an 08/04/2025 equity-compensation award; no cash payment or special consideration is noted. By signing, the filer certifies the absence of undisclosed adverse information and attests compliance with Rule 10b5-1, if applicable.

No operational metrics, guidance changes or financing activities are included. The document solely reports insider share-sale intentions, which may signal portfolio rebalancing but is too small to affect corporate control or earnings.

Positive

• Compliance transparency: Detailed Rule 144 disclosure and potential 10b5-1 adherence demonstrate sound governance.
• Immaterial dilution risk: 2,026 shares represent a fraction of Netflix’s 424.9 million share base.

Negative

• Insider selling signal: Consecutive disposals by a senior executive may weigh on investor sentiment.
• Lack of operational information: Filing provides no data on performance, leaving market to focus solely on insider activity.

Insights

Securities Analyst

TL;DR: Small, routine insider sale; negligible float impact, mildly negative sentiment.

Greg Peters plans to dispose of roughly $2.3 m in stock (<1 bp of shares outstanding) following a similar sized sale in May. While insider selling can worry momentum traders, the volume is immaterial to liquidity and unlikely to influence valuation. The 10b5-1 language suggests a pre-arranged plan, mitigating concerns over adverse information. Overall, I view the filing as not materially impactful for fundamental investors, though sentiment-focused holders may read it as a modest negative.

Corporate Governance Expert

TL;DR: Governance-compliant disclosure; scale too small to raise red flags.

The Form 144 provides full Rule 144 disclosures—broker details, acquisition source, prior 3-month sales—indicating procedural rigor. Peters’ aggregate sales over three months remain well below volume and value limits, so no regulatory issues arise. The signer’s affirmation of no undisclosed MNPI and possible 10b5-1 coverage further reduces governance risk. Nevertheless, continued executive selling, even in small lots, can be interpreted as limited insider conviction. Impact on shareholder rights or control is nil.

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

144: Filer Information

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

144: 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: 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	Merrill Lynch 3075B Hansen Way 1st Floor Palo Alto CA 94304	2026	2344863.49	424926346	08/05/2025	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: 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	08/04/2025	Equity Compensation	Netflix Com Inc			2026	08/04/2025	N/A

* 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: 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
Gregory K Peters 121 Albright Way Los Gatos CA 95032	Common	05/06/2025	2027	2313843.09

144: Remarks and Signature

Remarks

Date of Notice

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 (NFLX) shares are being sold under this Form 144?

Gregory K. Peters plans to sell 2,026 common shares.

What is the estimated market value of the proposed NFLX share sale?

The filing lists an aggregate market value of $2,344,863.49 for the 2,026 shares.

When can the insider sale of Netflix shares occur?

The approximate sale date disclosed is 08/05/2025.

How many Netflix shares did Gregory Peters sell in the prior three months?

He sold 2,027 shares on 05/06/2025 for $2,313,843.09.

Does this Form 144 indicate any undisclosed negative information about Netflix?

No. The signer certifies he is not aware of material adverse information that has not been publicly disclosed.