[144] NetFlix Inc SEC Filing

Rhea-AI Filing Summary

Netflix, Inc. (NFLX) – Form 144 filing: Co-CEO Theodore A. Sarandos has filed a notice of proposed insider sale. He intends to dispose of 2,026 common shares through Merrill Lynch on or about 05 Aug 2025. At the filing date, the transaction’s aggregate market value is approximately $2.35 million, implying an average price near $1,161 per share. The shares were acquired via restricted stock unit (RSU) vesting on 04 Aug 2025 and were not purchased for cash.

The filing also discloses a prior sale of 2,027 shares on 06 May 2025 that generated $2.31 million in gross proceeds. Netflix’s total shares outstanding are reported at 424.9 million; the proposed sale represents roughly 0.0005 % of the float, indicating limited dilution or ownership impact. No adverse information about the company was asserted, and the filer affirms compliance with Rule 144 and, if applicable, Rule 10b5-1 trading plans.

Materiality: While the dollar amount is meaningful in absolute terms, the volume is immaterial relative to Netflix’s capitalization. Investors may monitor continued insider activity for sentiment but should not expect financial statement impact.

Insights

Corporate Governance Expert

TL;DR Small-scale insider sale by co-CEO; signals liquidity preference, not necessarily bearish.

Theodore Sarandos’ 2,026-share notice follows a similar-sized May sale. The aggregate value is modest against his total holdings and Netflix’s $250 bn market cap. Rule 144 filings are routine for executives managing tax liabilities on RSU vesting. No concurrent negative disclosures accompany the filing, reducing concern of informational asymmetry. Continued, regular selling at similar tranches suggests a pre-arranged plan, aligning with good governance practices. I view impact as neutral; however, persistent insider distributions can shape perception if market sentiment turns fragile.

Portfolio Manager

TL;DR Transaction is de minimis versus float; unlikely to influence valuation or trading dynamics.

At 0.0005 % of shares outstanding, liquidity absorption is negligible—roughly half of one minute of average NFLX volume. The prior May sale did not move the stock, reinforcing the view that these disposals are planned and immaterial. From a portfolio-risk standpoint, no position adjustment is warranted solely on this filing. Nonetheless, I log the event for cumulative insider-selling trend analysis. Rating: neutral/not impactful.

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 is Theodore A. Sarandos planning to sell?

The Form 144 states he plans to sell 2,026 common shares.

What is the estimated market value of Sarandos’ proposed Netflix share sale?

The filing lists an aggregate market value of approximately $2.35 million.

When is the planned sale date for the Netflix shares?

The approximate sale date disclosed is 05 August 2025.

How were the shares to be sold acquired?

They were acquired via RSU vesting on 04 August 2025.

Were there any recent insider sales by Sarandos prior to this filing?

Yes. The filing notes a sale of 2,027 shares on 06 May 2025 for $2.31 million.

Which broker will handle the proposed transaction?

The shares are to be sold through Merrill Lynch, San Francisco.