[Form 4] NetFlix Inc Insider Trading Activity

Rhea-AI Filing Summary

On July 1, 2025, Netflix (NFLX) filed a Form 4 disclosing that director Jay C. Hoag received 49 non-qualified stock options with an exercise price of $1,293.60 per share, expiring July 1, 2035. The options were granted (code “A”) and are held directly; there were no dispositions or open-market purchases of common stock. Following the transaction, Hoag beneficially owns 49 derivative securities and no additional common shares were reported. Given the very small grant size relative to Netflix’s daily trading volume and Hoag’s existing holdings, the filing appears to be a routine element of director compensation and is unlikely to have a material impact on the company’s valuation or governance profile.

Insights

Securities Analyst

TL;DR — Minor option grant; neutral impact on NFLX.

This Form 4 reveals only a 49-unit stock option grant to director Jay C. Hoag at a strike of $1,293.60, aligning with typical board compensation. With no common shares traded and the notional value (<$65k intrinsic today) immaterial to Netflix’s $200 bn market cap, the disclosure should not influence earnings outlooks or governance risk metrics. The filing maintains transparency but carries neutral investment significance.

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^*

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)
07/01/2025

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)	$1,293.6	07/01/2025		A		49		07/01/2025	07/01/2035	Common Stock	49	$0	49	D

Explanation of Responses:

	/s/ Frederic D. Fenton Authorized Signatory for Jay C. Hoag	07/02/2025
	** 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 (NFLX) disclose in this Form 4?

Director Jay C. Hoag received 49 non-qualified stock options at a $1,293.60 strike price, expiring July 1, 2035.

Did Jay C. Hoag buy or sell any Netflix common stock?

No. The filing shows only an option grant; there were no common-stock purchases or sales reported.

How many options does Hoag own after this transaction?

He beneficially owns 49 derivative securities (the newly granted options) following the transaction.

Is the option grant material to Netflix’s share price?

Given the small size—49 options—it is not considered material relative to Netflix’s market capitalization.

What is the exercise price and expiration date of the options?

The strike price is $1,293.60 per share and the options expire on July 1, 2035.