Were Reed Hastings’ Netflix (NFLX) share sales pre-planned?

Yes. The filing states the transactions were made under a Rule 10b5-1 trading plan adopted on August 8, 2023. Such plans schedule trades in advance, helping separate personal portfolio moves from short-term market information.

Reed Hastings sells 407K Netflix shares under plan

NETFLIX INC director Reed Hastings reported a set of option and share transactions dated May 1, 2026.

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Form Type

Rhea-AI Filing Summary

NETFLIX INC director Reed Hastings reported a set of option and share transactions dated May 1, 2026. He exercised 407,550 non-qualified stock options at an exercise price of $9.738 per share, converting them into an equal number of Netflix common shares.

On the same date, he reported open‑market sales totaling 407,550 common shares at weighted average prices including $92.2830, $93.5427 and $94.1689 per share. The filing states these sales were made under a Rule 10b5‑1 trading plan adopted on August 8, 2023. Separately, a trust identified as the Hastings‑Quillin Family Trust holds 21,159,576 Netflix shares indirectly as of the same date.

Insider Trade Summary 10b5-1

Exercise and Sale: 407,550 shares ($33.99M approx. pre-tax spread)

Exercise and Sale 7 txns

Insider HASTINGS REED

Role Director

Sold 407,550 shs ($37.96M)

Approx. gross sale proceeds $37.96M

Approx. exercise cost $3.97M

Approx. pre-tax spread $33.99M

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	407,550	$0.00	$0.00
Grant/Award	Non-Qualfied Stock Option (right to buy)	679	$0.00	$0.00
Exercise	Common Stock	407,550	$9.738	$3.97M
Sale	Common Stock	188,425	$92.283	$17.39M
Sale	Common Stock	105,791	$93.5427	$9.90M
Sale	Common Stock	113,334	$94.1689	$10.67M
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 contracts (Direct); Non-Qualfied Stock Option (right to buy) — 679 contracts (Direct); Common Stock — 3,940 shares (Direct); Common Stock — 21,159,576 shares (Indirect, by Trust)

Footnotes (5)

F1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 8/8/2023.
F2. This transaction was executed in multiple trades at prices ranging from $91.91 to $92.9049. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3. This transaction was executed in multiple trades at prices ranging from $92.9077 to $93.9036. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F4. This transaction was executed in multiple trades at prices ranging from $93.9052 to $94.70. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F5. As Trustee of the Hastings-Quillin Family Trust.

Key Figures

Options exercised: 407,550 shares at $9.738 Shares sold: 407,550 shares Sale price (weighted average): $92.2830 per share +4 more

7 metrics

Options exercised 407,550 shares at $9.738 Non-qualified stock options exercised on May 1, 2026

Shares sold 407,550 shares Open-market sales on May 1, 2026

Sale price (weighted average) $92.2830 per share One of three reported weighted average sale prices

Sale price (weighted average) $93.5427 per share One of three reported weighted average sale prices

Sale price (weighted average) $94.1689 per share One of three reported weighted average sale prices

Indirect holdings by trust 21,159,576 shares Common stock held indirectly by Hastings-Quillin Family Trust

New options grant 679 options at $92.0600 Non-qualified stock option grant expiring May 1, 2036

Key Terms

Rule 10b5-1 trading plan, Non-Qualfied Stock Option (right to buy), weighted average sale price, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan financial

"Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Non-Qualfied Stock Option (right to buy) financial

"security_title": "Non-Qualfied Stock Option (right to buy)""

weighted average sale price financial

"The price reported above reflects the weighted average sale price."

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Reed Hastings report in his latest Netflix (NFLX) Form 4?

Reed Hastings reported exercising 407,550 non-qualified stock options at $9.738 per share and selling 407,550 Netflix common shares in open-market transactions at weighted average prices in the low-$90s per share, all dated May 1, 2026.

How many Netflix (NFLX) shares did Reed Hastings sell in this Form 4?

He reported total open-market sales of 407,550 Netflix common shares. These were executed in multiple trades at weighted average prices including $92.2830, $93.5427 and $94.1689 per share, all on May 1, 2026.

What options did Reed Hastings exercise in the latest Netflix (NFLX) filing?

He exercised 407,550 non-qualified stock options with an exercise price of $9.738 per share, converting them into an equal number of Netflix common shares. A related derivative entry shows these options were fully exercised, leaving no remaining balance for that grant.

How many Netflix (NFLX) shares are held through the Hastings-Quillin Family Trust?

The Form 4 shows 21,159,576 Netflix common shares held indirectly "by Trust," identified in a footnote as the Hastings-Quillin Family Trust. Reed Hastings is referenced as trustee, indicating these shares are associated with that family trust structure.

Did Reed Hastings receive any new Netflix (NFLX) stock options in this Form 4?

Yes. He was granted 679 non-qualified stock options with an exercise price of $92.0600 per share, exercisable from May 1, 2026, and expiring on May 1, 2036. These options are tied to 679 underlying Netflix common shares.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/04/2026 - 04:05 PM EDT

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

HASTINGS REED

(Last)

(First)

(Middle)

121 ALBRIGHT WAY

(Street)

LOS GATOS

CALIFORNIA

95032

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		M		407,550⁽¹⁾	A	$9.738	411,490	D
Common Stock	05/01/2026		S		188,425⁽¹⁾	D	$92.283⁽²⁾	223,065	D
Common Stock	05/01/2026		S		105,791⁽¹⁾	D	$93.5427⁽³⁾	117,274	D
Common Stock	05/01/2026		S		113,334⁽¹⁾	D	$94.1689⁽⁴⁾	3,940	D
Common Stock								21,159,576⁽⁵⁾	I	by Trust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$9.738	05/01/2026		M			407,550⁽¹⁾	09/01/2016	09/01/2026	Common Stock	407,550	$0	0	D
Non-Qualfied Stock Option (right to buy)	$92.06	05/01/2026		A		679		05/01/2026	05/01/2036	Common Stock	679	$0	679	D

Explanation of Responses:

1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 8/8/2023.

2. This transaction was executed in multiple trades at prices ranging from $91.91 to $92.9049. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. This transaction was executed in multiple trades at prices ranging from $92.9077 to $93.9036. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

4. This transaction was executed in multiple trades at prices ranging from $93.9052 to $94.70. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. As Trustee of the Hastings-Quillin Family Trust.

Remarks:

	Veronique Bourdeau, Authorized Signatory For: Reed Hastings	05/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR