Netflix's Reed Hastings plans $25M share sale

Rhea-AI Filing Summary

Netflix Inc. (NFLX) director Reed Hastings filed a notice to sell up to 311,300 common shares of Netflix under Rule 144, through Merrill Lynch, with a proposed sale date of 09/01/2026 following an exercise of stock options for cash. Netflix reports 4,163,939,676 shares outstanding as context.

Over the prior three months, Hastings reported sales of 338,570 shares on 08/03/2026 and 321,880 shares on 07/01/2026. He also gifted 239,223 shares to Campaign For Greater Public Schools on 07/31/2026, which the donee sold on 08/05/2026.

Key Figures

Shares proposed for sale: 311,300 shares Aggregate market value of proposed sale: $25,198,859.94 Shares outstanding: 4,163,939,676 shares +5 more

8 metrics

Shares proposed for sale 311,300 shares Common stock to be sold under Rule 144, proposed sale date 09/01/2026

Aggregate market value of proposed sale $25,198,859.94 Value of 311,300 shares of Netflix common stock in the Form 144 notice

Shares outstanding 4,163,939,676 shares Netflix common shares outstanding referenced in the notice

Shares sold 08/03/2026 by Reed Hastings 338,570 shares Common stock sold for $24,724,484.60

Proceeds from 08/03/2026 sale $24,724,484.60 Aggregate sale price for 338,570 shares

Shares sold 07/01/2026 by Reed Hastings 321,880 shares Common stock sold for $23,683,002.74

Gifted shares 07/31/2026 239,223 shares NFLX shares gifted to Campaign For Greater Public Schools, later sold

Proceeds from 08/05/2026 donee sale $17,747,954.37 Sale of 239,223 gifted NFLX shares by Campaign For Greater Public Schools

Key Terms

Rule 144, aggregate market value, restricted securities, stock options

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

aggregate market value financial

"Common | Merrill Lynch ... | 311300 | 25198859.94 | 4163939676 |"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

restricted securities regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Restricted securities are shares or other investment instruments that come with legal or contractual limits on when and how they can be sold, like stock given to founders or bought in a private offering. Think of them as assets in a locked box that can’t be freely traded until certain conditions — such as a waiting period, company registration, or specific approvals — are met. For investors this matters because restricted securities are less liquid and can affect timing, price, and perceived value when they eventually enter the market.

stock options financial

"Exercise of stock options | Issuer | | | 311300 | 09/01/2026 | Cash"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

FAQ

What does Reed Hastings’ Form 144 mean for Netflix (NFLX) shares?

Reed Hastings filed a Rule 144 notice to sell up to 311,300 Netflix common shares after exercising stock options for cash, with a proposed sale date of 09/01/2026. This is a regulatory disclosure of a potential sale, not a guarantee the entire amount will be sold.

How many NFLX shares is Reed Hastings planning to sell and through whom?

Reed Hastings plans to sell up to 311,300 Netflix (NFLX) common shares through Merrill Lynch, with a proposed sale date of 09/01/2026. The notice lists an aggregate market value of $25,198,859.94 for these shares.

How large is Reed Hastings’ planned NFLX sale relative to Netflix’s share count?

The notice shows 311,300 shares proposed for sale, while Netflix had 4,163,939,676 shares outstanding. This provides a baseline share count for context; the proposed sale represents a very small fraction of the total outstanding shares.

What recent NFLX share sales has Reed Hastings reported in the last 3 months?

In the prior three months, Reed Hastings reported selling 338,570 NFLX shares for $24,724,484.60 on 08/03/2026 and 321,880 shares for $23,683,002.74 on 07/01/2026, as disclosed in the past 3‑month sales section.

What was the NFLX stock gift to Campaign For Greater Public Schools?

On 07/31/2026, Reed Hastings gifted 239,223 Netflix (NFLX) shares to Campaign For Greater Public Schools. The recipient then sold those 239,223 shares on 08/05/2026 for an aggregate amount of $17,747,954.37.

How were the new NFLX shares Reed Hastings plans to sell obtained?

The planned sale of 311,300 Netflix (NFLX) shares is described as arising from the exercise of stock options on 09/01/2026, with the method of payment listed as cash.

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

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Available on EDGAR 09/01/2026 - 04:14 PM Accepted by SEC EDGAR 09/01/2026 - 04:13 PM Learn about SEC filing dates

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	0001033331
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	Reed Hastings
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	Director

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 Street Suite 1800 San Francisco CA 94104	311300	25198859.94	4163939676	09/01/2026	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	09/01/2026	Exercise of stock options	Issuer			311300	09/01/2026	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
Reed Hastings 121 Albright Way Los Altos CA 95032	Common	08/03/2026	338570	24724484.6
Reed Hastings 121 Albright Way Los Altos CA 95032	Common	07/01/2026	321880	23683002.74
Campaign For Greater Public Schools 9450 SW Gemini Drive PMB 28552 Beaverton OR 97008	Common	08/05/2026	239223	17747954.37

144: Remarks and Signature

Remarks	07/31/2026: Gifted 239,223 NFLX to Campaign For Greater Public Schools. 239,223 shares were sold by the recipient on 08/05/2026. Details of the sales are listed in the securities sold during the past 3 months.
Date of Notice	09/01/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	08/08/2023
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	Reed Hastings
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)