[Form 4] NetFlix Inc Insider Trading Activity

Rhea-AI Filing Summary

Jeffrey William Karbowski, Chief Accounting Officer of Netflix, Inc. (NFLX), reported a derivative securities transaction dated 09/02/2025. He was granted a non-qualified stock option to buy 57 shares of Netflix common stock at an exercise price of $1,214.11 per share. The option is exercisable beginning 09/02/2025 and expires 09/02/2035. Following the reported transaction, 57 shares underlying the option are beneficially owned directly. The Form 4 was signed by an authorized signatory on behalf of Mr. Karbowski on 09/03/2025. The filing identifies his role and confirms this single reported option grant; no other transactions or amounts are disclosed.

Insights

Financial Analyst

TL;DR: Routine small non-qualified option grant to a senior officer; limited direct market impact based on disclosed size.

The Form 4 documents a single non-qualified stock option for 57 shares at a $1,214.11 exercise price, exercisable immediately and expiring in 2035. From an investor-analytics perspective, this is a customary equity compensation event that aligns the officer with shareholder value over the long term. The disclosed economic magnitude is small in absolute share count and no cash proceeds or dispositions are reported, so the transaction is unlikely to move valuation metrics or signal material insider trading trends based solely on this filing.

Corporate Governance Expert

TL;DR: Standard executive equity award documented; filing meets Section 16 reporting requirements.

The report identifies Mr. Karbowski as Chief Accounting Officer and files a timely Form 4 showing a non-qualified option grant. The option's immediate exercisability and 10-year term are typical for compensation plans. The filing was submitted by an authorized signatory, indicating procedural compliance. There are no disclosures of additional related-party arrangements or departures from routine governance practices within the text provided.

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^*

Karbowski Jeffrey William

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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)	$1,214.11	09/02/2025		A		57		09/02/2025	09/02/2035	Common Stock	57	$0	57	D

Explanation of Responses:

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Jeffrey Karbowski	09/03/2025
	** 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 transaction did Jeffrey Karbowski report on the Form 4 for NFLX?

The Form 4 reports a non-qualified stock option grant to purchase 57 shares of Netflix common stock.

What is the exercise price and term of the option reported by Jeffrey Karbowski?

The option has an exercise price of $1,214.11 per share, is exercisable 09/02/2025, and expires 09/02/2035.

How many shares does Jeffrey Karbowski beneficially own following the reported transaction?

Following the reported transaction, he beneficially owns 57 shares (direct ownership of the underlying option).

What role does the reporting person hold at Netflix according to the filing?

The filing identifies Jeffrey William Karbowski as Chief Accounting Officer and an officer of Netflix.

When was the transaction dated and when was the Form 4 signed?

The transaction date is 09/02/2025, and the Form 4 was signed by an authorized signatory on 09/03/2025.