NFLX Form 4: Jay C. Hoag Reports 51 Non-Qualified Options Grant

Rhea-AI Filing Summary

Jay C. Hoag, a director of Netflix, reported a transaction on Form 4 showing acquisition of 51 non-qualified stock options on 09/02/2025. The options have an exercise price of $1,214.11, are exercisable on 09/02/2025 and expire on 09/02/2035, and correspond to 51 shares of Netflix common stock. The Form 4 was signed by an authorized signatory on 09/03/2025.

Positive

• Director received equity-based compensation in the form of 51 non-qualified options, aligning interests with shareholders

Negative

• None.

Insights

Financial Analyst

TL;DR: Director acquired a small grant of 51 options at a high exercise price; routine insider compensation, limited market impact.

The filing documents a non-derivative economic exposure created by a 51-option grant to a director with an exercise price of $1,214.11. Given the modest share count relative to Netflix's market capitalization and the ten-year term, this appears consistent with routine director equity awards rather than a material change in ownership. No dispositions or larger holdings are reported.

Corporate Governance Expert

TL;DR: This Form 4 records a typical director option grant; disclosure timing and signature are in order.

The Form 4 was timely signed by an authorized signatory and lists the reporting person as a director. The instrument is a non-qualified stock option exercisable immediately with a standard ten-year expiration, which aligns with common board compensation practices. The disclosure contains required details and no apparent filing irregularities.

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^*

Hoag Jay C

(Last) (First) (Middle)

250 MIDDLEFIELD ROAD

(Street)

MENLO PARK CA 94025

(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:

	/s/ Frederic D. Fenton Authorized Signatory for Jay C. Hoag	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 Jay C. Hoag report on the Form 4 for NFLX?

He reported acquisition of 51 non-qualified stock options with an exercise price of $1,214.11, exercisable 09/02/2025 and expiring 09/02/2035.

When was the transaction executed and filed for the NFLX Form 4?

The transaction date is 09/02/2025 and the Form 4 bears an authorized signature dated 09/03/2025.

How many shares underlie the derivative reported by Jay C. Hoag?

The reported option grant underlies 51 shares of Netflix common stock.

What is the exercise price and term of the options reported on the Form 4?

The options have an exercise price of $1,214.11, are exercisable on 09/02/2025, and expire on 09/02/2035.

Does the Form 4 show any dispositions or other holdings by Jay C. Hoag?

No dispositions or additional holdings are reported in the provided Form 4; only the 51-option acquisition is listed.