[Form 4] NetFlix Inc Insider Trading Activity

Rhea-AI Filing Summary

Leslie J. Kilgore, a director of Netflix, acquired 51 shares of common stock on 09/02/2025 through exercise of a non-qualified stock option. The option shows a conversion/exercise price of $1,214.11, an exercise date of 09/02/2025 and an expiration date of 09/02/2035. Following the reported transaction the filing lists 51 shares beneficially owned directly. The Form 4 was signed on behalf of the reporting person on 09/03/2025.

Insights

Corporate Governance Expert

TL;DR: Routine director option exercise; small, direct ownership change with minimal governance impact.

The filing documents a non-qualified option exercise by a director resulting in direct ownership of 51 shares. This appears to be a personal compensation/award transaction rather than a change in control or director departure. The size is small relative to a large-cap issuer and does not signal a material shift in insider alignment or board composition. Disclosure is timely and compliant with Section 16 reporting.

Securities Analyst

TL;DR: Small-scale insider exercise; negligible effect on share count or market-capitalization metrics.

The Form 4 shows an exercise of 51 option shares at an indicated conversion price of $1,214.11, exercisable immediately with a 2035 expiration. Post-transaction beneficial ownership is 51 shares direct. For investors or analysts, this transaction is immaterial to Netflix's capital structure and likely reflects routine compensation vesting.

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

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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^*

KILGORE LESLIE J

(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)
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		51		09/02/2025	09/02/2035	Common Stock	51	$0	51	D

Explanation of Responses:

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Leslie J. Kilgore	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 did Netflix director Leslie J. Kilgore report on Form 4 (NFLX)?

The Form 4 reports that Leslie J. Kilgore exercised a non-qualified stock option to acquire 51 shares on 09/02/2025 and beneficially owns 51 shares directly.

What was the exercise price and expiration for the option reported on NFLX Form 4?

The reported option shows a conversion/exercise price of $1,214.11 and an expiration date of 09/02/2035.

When was the Form 4 for Leslie J. Kilgore filed and signed?

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

How many shares does Kilgore beneficially own after the reported transaction?

Following the reported transaction the Form 4 lists 51 shares beneficially owned, held directly.

Does this Form 4 indicate any sale or disposition of Netflix shares by the director?

No. The filing records an acquisition via option exercise of 51 shares; no dispositions are reported.