Bradford L. Smith Reports 51 NFLX Options Exercisable 09/02/2025

Rhea-AI Filing Summary

Bradford L. Smith, a director of Netflix, Inc. (NFLX), reported receiving 51 non-qualified stock options on 09/02/2025. The options have an exercise price of $1,214.11, are exercisable immediately on 09/02/2025 and expire on 09/02/2035. Following the reported transaction the filing shows 51 shares underlying the option held directly. The Form 4 was signed by an authorized signatory on 09/03/2025. The filing identifies Smith's address in Los Gatos, CA and his status as a director of the issuer.

Positive

• 51 non-qualified stock options were granted to director Bradford L. Smith, with full disclosure of exercise price and dates

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine director option award reported; small share count and long-dated exercise window suggest limited immediate market impact.

This Form 4 discloses a grant of 51 non-qualified stock options to Bradford L. Smith with a strike of $1,214.11, exercisable on grant and expiring in 2035. From an investor-materiality perspective, the absolute size is small relative to a large-cap issuer and is unlikely to be materially dilutive. The filing is complete for the single transaction: it provides transaction date, option terms, underlying share count and post-transaction beneficial ownership for the reported class.

Corporate Governance Expert

TL;DR: Disclosure is standard for a director equity grant; it documents alignment through equity but is not a material change in ownership.

The Form 4 correctly reports a director-level non-qualified option award of 51 shares, including exercise price, exercisability date and expiration date. The signature block shows filing by an authorized signatory. There are no additional entries, amendments, or multiple classes disclosed. For governance review, this is a routine insider reporting item without indications of unusual vesting or derivative structures beyond standard single-option terms.

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^*

SMITH BRADFORD L

(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: Bradford L. Smith	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 Bradford L. Smith report on Form 4 for NFLX?

He reported the acquisition of 51 non-qualified stock options on 09/02/2025.

What is the exercise price and exercisability of the options reported by Bradford L. Smith?

The options have an exercise price of $1,214.11 and are exercisable on 09/02/2025.

When do the reported options expire?

The options expire on 09/02/2035.

How many underlying shares are covered by the reported derivative security?

The derivative security covers 51 shares of Netflix common stock.

What is Bradford L. Smith's role at Netflix as stated in the filing?

The Form 4 lists Bradford L. Smith as a Director of Netflix, Inc.