[144] NetFlix Inc SEC Filing

Rhea-AI Filing Summary

Netflix, Inc. (Form 144 filing) discloses a proposed insider sale under Rule 144. An individual named Theodore A Sarandos has notified intent to sell 2,026 common shares through Merrill Lynch on 08 Aug 2025 at an aggregate market value of $2.35 million. The shares were acquired via an RSU vest on 04 Aug 2025 and represent roughly 0.0005 % of the 424.9 million shares outstanding.

The filing also shows a prior transaction in the last three months: 2,027 shares were sold on 06 May 2025 for $2.31 million. No additional financial metrics, earnings data, or narrative commentary are provided. Rule 144 language confirms the seller affirms no undisclosed material adverse information and acknowledges penalties for misstatements.

The notice is procedural, signalling limited share-volume insider liquidity rather than a corporate-level event.

Positive

• Minimal dilution impact: 2,026 shares equal only ~0.0005 % of outstanding stock.
• Rule 144 and 10b5-1 compliance indicates adherence to insider-trading safeguards.

Negative

• Insider selling signal: Consecutive sales worth a combined ~$4.66 M may be viewed negatively by some investors.

Insights

Securities Analyst

TL;DR: Small Rule 144 sale, immaterial to float; signals routine insider liquidity, not operational change.

The filing covers only 2,026 shares—about five-ten-thousandths of the share base—valued at $2.35 M. This is well below any threshold that would impact ownership concentration or trading liquidity. The sale follows an RSU vest, matching normal executive cash-out behaviour. A similar-sized sale occurred in May, suggesting periodic divestments. Because no earnings or strategic information accompanies the filing, the market effect should be negligible. Impact: neutral.

Corporate Governance Expert

TL;DR: Insider cashing out post-vesting; governance risk low, yet optics of consecutive sales may concern some investors.

Rule 144 compliance and 10b5-1 language mitigate regulatory risk, but back-to-back sales can raise perception issues around insider sentiment, especially absent simultaneous insider buys. Still, volume is trivial to total shares, and the seller affirms no undisclosed adverse data. Overall governance integrity maintained; market reaction likely muted.

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 555 California St Fl 18 San Francisco CA 94104	2026	2351411.25	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	RSU Vest	Issuer			2026	08/04/2025	Compensation

* 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
Theodore A Sarandos 121 Albright Way Los Gatos CA 95032	Common	05/06/2025	2027	2311283.26

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 notice?

The filing covers 2,026 common shares.

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

The aggregate market value is $2,351,411.25.

When will the NFLX shares be sold?

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

How were the shares acquired by the seller?

The shares were RSU vested on 08/04/2025 as compensation.

Has the seller disposed of Netflix shares recently?

Yes. 2,027 shares were sold on 05/06/2025 for $2,311,283.26.

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

Approximately 0.0005 % of the 424,926,346 shares outstanding.