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Netflix (NASDAQ: NFLX) approves additional $25B share buyback

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Netflix, Inc. disclosed that its Board of Directors has authorized the repurchase of an additional $25 billion of its common stock. This new authorization has no expiration date and is in addition to the share repurchase program approved in December 2024.

The company had approximately $6.8 billion remaining under the December 2024 authorization as of March 31, 2026. Repurchases may be made in the open market under Rule 10b-18, through Rule 10b5-1 trading plans, privately negotiated deals, accelerated stock repurchase plans, block purchases, or similar techniques, in amounts management deems appropriate.

Positive

  • Large new buyback authorization: The Board approved an additional $25 billion share repurchase authorization, on top of about $6.8 billion remaining from the December 2024 program as of March 31, 2026, significantly expanding capacity for returning capital via buybacks.

Negative

  • None.

Insights

Netflix adds a sizable new $25B share repurchase authorization, expanding its capacity for stock buybacks.

The Board authorized an additional $25 billion of common stock repurchases with no expiration, on top of the December 2024 program, which had about $6.8 billion remaining as of March 31, 2026. This materially increases the total capacity for returning capital through buybacks.

Repurchases may occur via open market trades compliant with Rule 10b-18, Rule 10b5-1 trading plans, privately negotiated transactions, accelerated stock repurchase plans, and block purchases. Actual activity will depend on factors such as stock price, economic conditions, business conditions, market conditions, and alternative investment opportunities, and the company can discontinue repurchases at any time.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
New repurchase authorization $25 billion Additional common stock buyback capacity authorized by Board
Remaining prior authorization $6.8 billion Available under December 2024 repurchase program as of March 31, 2026
Rule 10b-18 Referenced Governs open market repurchases under the Exchange Act
Rule 10b5-1 Referenced Trading plans may be used for share repurchases
Authorization date April 22, 2026 Date Board approved additional repurchase capacity
Rule 10b-18 regulatory
"Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act"
Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.
Rule 10b5-1 regulatory
"including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
accelerated stock repurchase plans financial
"privately-negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar purchase techniques"
share repurchase authorization financial
"under the Company’s December 2024 share repurchase authorization"
A share repurchase authorization is a company's official approval to buy back its own shares from the market. This signals that the company believes its stock is a good investment and can help increase the value of remaining shares by reducing how many are available. For investors, it often suggests confidence from the company and can influence the stock’s price.
common stock, par value $0.001 per share financial
"Common stock, par value $0.001 per share | NFLX | NASDAQ Global Select Market"

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

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FAQ

What did Netflix (NFLX) announce regarding its share repurchase program?
Netflix’s Board authorized the repurchase of an additional $25 billion of common stock, with no expiration date. This new authorization supplements the company’s existing December 2024 share repurchase program, expanding its capacity to buy back shares over time.

How much capacity remained under Netflix’s prior buyback authorization?
As of March 31, 2026, Netflix had about $6.8 billion available for repurchase under its December 2024 share repurchase authorization. The new $25 billion approval is in addition to this remaining capacity, rather than replacing it.

What methods can Netflix use to repurchase its common stock?
Netflix may repurchase shares through open market transactions under Rule 10b-18, Rule 10b5-1 trading plans, privately negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar techniques that management considers appropriate.

Is Netflix obligated to repurchase a specific number of shares under this authorization?
No, Netflix is not obligated to repurchase any specific number of shares. The timing and actual amount of repurchases will depend on its stock price, economic and market conditions, business conditions, and alternative investment opportunities, and repurchases can be discontinued at any time.

Does Netflix’s new $25 billion buyback authorization have an expiration date?
The additional $25 billion repurchase authorization has no expiration date, similar to the December 2024 program. This allows Netflix flexibility to conduct share repurchases over an extended period, depending on conditions and management’s decisions.
NETFLIX INC0001065280false00010652802026-04-222026-04-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
__________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 22, 2026
__________________________________
NETFLIX, INC.
(Exact name of registrant as specified in its charter)
__________________________________
Delaware001-3572777-0467272
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
121 Albright Way, Los Gatos, California
95032
(Address of principal executive offices)(Zip Code)

(408) 540-3700
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
__________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.001 per shareNFLXNASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐


Item 8.01 Other Events.
On April 22, 2026, the Board of Directors (the “Board”) of Netflix, Inc. (the “Company”) authorized the repurchase of an additional $25 billion of the Company’s common stock, in addition to the repurchase program authorized in December 2024, each without an expiration date. The Company had approximately $6.8 billion available for repurchase as of March 31, 2026 under the Company’s December 2024 share repurchase authorization. Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act, privately-negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar purchase techniques and in such amounts as management deems appropriate. We are not obligated to repurchase any specific number of shares, and the timing and actual number of shares repurchased will depend on a variety of factors, including our stock price, general economic, business and market conditions, and alternative investment opportunities. The Company may discontinue repurchases without notice at any time.
 


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
NETFLIX, INC.
Date:April 22, 2026
/s/ Spencer Neumann
Spencer Neumann
Chief Financial Officer


Source: View Original Filing on SEC EDGAR

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