NFLX Form 144: Insider sale notice for 2,600 shares ($3.12M)

Form 144 notice for NFLX shows proposed and recent sales of common stock by Spencer Neumann.

Accepted by SEC EDGAR 10/01/2025 - 04:14 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Form 144 notice for NFLX shows proposed and recent sales of common stock by Spencer Neumann. The filing lists a proposed sale of 2,600 shares through Morgan Stanley Smith Barney on 10/01/2025 with an aggregate market value of $3,117,192.00. It also discloses acquisition of those 2,600 shares by exercise of stock options on 10/01/2025 paid in cash. The filing documents three recent sales during the prior three months: 2,600 shares on 09/02/2025, 685 shares on 08/06/2025, and 2,601 shares on 08/01/2025, all by or for Spencer Neumann, with gross proceeds reported for each sale. The filer certifies no undisclosed material adverse information and notes reliance on Rule 10b5-1 where applicable.

Insights

Financial Analyst

TL;DR: Routine insider option exercise and modest sales; not material relative to outstanding shares.

The filing shows an option exercise and subsequent planned sale of 2,600 shares and records three recent sales totaling 5,886 shares in the past three months. Against 424,926,346 shares outstanding, these transactions represent an immaterial fraction of share count and supply. The disclosure and use of a broker and 10b5-1 sales indicate procedural compliance and pre-arranged trading. For investors, this is a transparency event rather than a signal of company-level stress or major insider reallocation.

Corporate Governance Expert

TL;DR: Proper Form 144 disclosure and Rule 10b5-1 use, consistent with good governance practices.

The document documents the exercise of options and timely notice of proposed sales via a registered broker. The filer affirms no undisclosed material adverse information and provides dates for past sales and plan adoption where applicable. This filing meets regulatory disclosure expectations; the scale of sales is small relative to outstanding equity, reducing governance or signaling concern.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What shares does the NFLX Form 144 propose to sell?

The notice proposes sale of 2,600 common shares via Morgan Stanley Smith Barney on 10/01/2025 with an aggregate market value of $3,117,192.00.

How were the 2,600 shares acquired according to the filing?

The filing states the shares were acquired by exercise of stock options on 10/01/2025 and paid in cash.

What recent insider sales are disclosed for Spencer Neumann?

Three sales in the prior three months are listed: 2,600 shares on 09/02/2025, 685 shares on 08/06/2025, and 2,601 shares on 08/01/2025, with gross proceeds reported for each.

Does the filing indicate any undisclosed material adverse information?

The signer represents they do not know any material adverse information that has not been publicly disclosed.

Which broker is handling the proposed sale?

The proposed sale lists Morgan Stanley Smith Barney LLC Executive Financial Services as the broker.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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	0001543133
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	NETFLIX INC
SEC File Number	001-35727
Address of Issuer	121 ALBRIGHT WAY LOS GATOS CALIFORNIA 95032
Phone	408-540-3700
Name of Person for Whose Account the Securities are To Be Sold	Neumann Spencer Adam
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	Officer

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	2600	3117192.00	424926346	10/01/2025	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: 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	10/01/2025	Exercise of Stock Options	Issuer			2600	10/01/2025	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: 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 for SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	09/02/2025	2600	3140166.90
SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	08/06/2025	685	795431.73
10b5-1 Sales for SPENCER NEUMANN 121 Albright Way Los Gatos CA 95032	Common	08/01/2025	2601	3023392.31

144: Remarks and Signature

Remarks
Date of Notice	10/01/2025
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	10/29/2024
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	/s/ Spencer Neumann
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)