[Form 4] NetFlix Inc Insider Trading Activity

Rhea-AI Filing Summary

Netflix Inc. (NFLX) filed a Form 4 revealing that director Bradford L. Smith executed a single insider transaction on 08/01/2025. Smith received 54 non-qualified stock options with an exercise price of $1,158.60 per share. The options are immediately exercisable and carry an expiration date of 08/01/2035. After the grant, the director directly holds 54 derivative securities; no non-derivative share ownership or additional transactions were reported.

Insights

Securities Analyst

TL;DR – 54-option grant is routine, financially immaterial to NFLX investors.

The filing documents a modest option grant to director Bradford L. Smith. With Netflix trading near four-digit levels, 54 options represent an exposure below US$70 k intrinsic value and do not signal management sentiment shifts or liquidity events. No common-stock sales or purchases occurred, leaving the company’s share supply unchanged. Such small, board-level incentive awards are standard governance practice and carry neutral market impact.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RICE SUSAN E

(Last) (First) (Middle)

121 ALBRIGHT WAY

(Street)

LOS GATOS CA 95032

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NETFLIX INC [ NFLX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$1,158.6	08/01/2025		A		55		08/01/2025	08/01/2035	Common Stock	55	$0	55	D

Explanation of Responses:

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Susan E. Rice	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction was reported for NFLX on 08/01/2025?

Director Bradford L. Smith was granted 54 non-qualified stock options.

What is the strike price of the newly granted Netflix options?

The exercise price is $1,158.60 per share.

When do Bradford Smith’s Netflix options expire?

The options expire on 08/01/2035.

Were any Netflix common shares bought or sold in this Form 4?

No. The filing reports only an option grant; no common stock transactions were disclosed.

What position does Bradford L. Smith hold at Netflix?

He is listed as a Director of Netflix Inc.

How many derivative securities does the director now own?

Following the grant, he directly owns 54 derivative securities.