Netflix CFO exercises RSUs, shares withheld for tax

Q: How many Netflix (NFLX) shares were involved in the CFO’s RSU exercises?

The filing shows derivative exercises covering 18,428 shares of Netflix common stock tied to restricted stock units. These M-coded transactions represent RSUs settling into common shares as part of the CFO’s equity compensation, according to the transactionSummary data in the report.

Q: How many Netflix (NFLX) shares were withheld for the CFO’s tax obligations?

The Form 4 reports 9,175 shares withheld to satisfy tax obligations from RSU vesting. These F-coded transactions are described as “payment of exercise price or tax liability by delivering securities,” using a transaction price of $92.06 per share for the withheld stock.

Netflix CFO Spencer Neumann reported routine equity compensation activity involving restricted stock units (RSUs).

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Form Type

Rhea-AI Filing Summary

Netflix CFO Spencer Neumann reported routine equity compensation activity involving restricted stock units (RSUs). On May 4, 2026, RSUs converted into Netflix common stock, recorded as derivative exercises, while a portion of the resulting shares was withheld to cover tax obligations.

The filing shows exercises of RSU-derived rights into common stock coded as M transactions and related F transactions for 9,175 shares withheld at $92.06 per share to satisfy taxes. There were no open‑market purchases or sales reported, and Neumann continues to hold Netflix shares directly after these transactions.

Insider Trade Summary

18,428 shares exercised/converted

Exercise 9 txns

Insider Neumann Spencer Adam

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	8,780	$0.00	$0.00
Exercise	Restricted Stock Units	4,900	$0.00	$0.00
Exercise	Restricted Stock Units	4,748	$0.00	$0.00
Exercise	Common Stock	8,780	$0.00	$0.00
Exercise	Common Stock	4,900	$0.00	$0.00
Exercise	Common Stock	4,748	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	4,371	$92.06	$402K
Exercise Price or Tax Liability	Common Stock	2,440	$92.06	$225K
Exercise Price or Tax Liability	Common Stock	2,364	$92.06	$218K

Holdings After Transaction: Restricted Stock Units — 94,401 contracts (Direct); Common Stock — 83,040 shares (Direct)

Footnotes (6)

F1. Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
F2. Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
F3. Each RSU represents a contingent right to receive one share of Netflix common stock.
F4. On January 25, 2024, the Reporting Person was granted 105,380 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024 (or, to the extent it is not a trading day, the first trading day thereafter).
F5. On January 23, 2025, the Reporting Person was granted 58,700 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2025 (or, to the extent it is not a trading day, the first trading day thereafter).
F6. On January 22, 2026, the Reporting Person was granted 56,977 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2026 (or, to the extent it is not a trading day, the first trading day thereafter).

Key Figures

RSU exercises: 18,428 shares Tax withholding shares: 9,175 shares Withholding reference price: $92.06 per share +2 more

5 metrics

RSU exercises 18,428 shares Derivative exercises (M code) into common stock on May 4, 2026

Tax withholding shares 9,175 shares F-code dispositions to satisfy tax obligations from RSU vesting

Withholding reference price $92.06 per share Transaction price used for F-code tax-withholding dispositions

Single RSU exercise block 8,780 shares Largest individual M-code RSU conversion into common stock

Single tax-withholding block 4,371 shares Largest individual F-code tax-withholding disposition of common stock

Key Terms

restricted stock units (RSUs), tax withholding obligations, contingent right, vest on a quarterly basis, +2 more

6 terms

restricted stock units (RSUs) financial

"Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

tax withholding obligations financial

"Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs"

contingent right financial

"Each RSU represents a contingent right to receive one share of Netflix common stock"

vest on a quarterly basis financial

"1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024"

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion"

payment of exercise price or tax liability by delivering securities financial

"transaction_code_description: Payment of exercise price or tax liability by delivering securities"

FAQ

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

What insider transactions did Netflix (NFLX) CFO Spencer Neumann report?

Spencer Neumann reported RSU-related transactions where restricted stock units converted into Netflix common stock and some resulting shares were withheld for taxes. These were coded as M (derivative exercise) and F (tax-withholding) transactions, reflecting routine equity compensation rather than open-market trading.

How many Netflix (NFLX) shares were involved in the CFO’s RSU exercises?

The filing shows derivative exercises covering 18,428 shares of Netflix common stock tied to restricted stock units. These M-coded transactions represent RSUs settling into common shares as part of the CFO’s equity compensation, according to the transactionSummary data in the report.

How many Netflix (NFLX) shares were withheld for the CFO’s tax obligations?

The Form 4 reports 9,175 shares withheld to satisfy tax obligations from RSU vesting. These F-coded transactions are described as “payment of exercise price or tax liability by delivering securities,” using a transaction price of $92.06 per share for the withheld stock.

Did the Netflix (NFLX) CFO buy or sell shares on the open market in this Form 4?

No open-market buys or sells are shown. All transactions are RSU exercises (M code) and tax-withholding dispositions (F code). The filing explicitly classifies F transactions as payment of tax liability by delivering securities, not as discretionary market purchases or sales.

What vesting schedule applies to the Netflix (NFLX) CFO’s restricted stock units?

Footnotes state grants on January 25, 2024, January 23, 2025, and January 22, 2026 each vest in twelfths on a quarterly basis. Vesting begins the first trading day on or after February 3 of the grant year, subject to award agreement conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/05/2026 - 06:45 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^*

Neumann Spencer Adam

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

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	05/04/2026		M		8,780	A	⁽¹⁾	82,567	D
Common Stock	05/04/2026		M		4,900	A	⁽¹⁾	87,467	D
Common Stock	05/04/2026		M		4,748	A	⁽¹⁾	92,215	D
Common Stock	05/04/2026		F		4,371⁽²⁾	D	$92.06	87,844	D
Common Stock	05/04/2026		F		2,440⁽²⁾	D	$92.06	85,404	D
Common Stock	05/04/2026		F		2,364⁽²⁾	D	$92.06	83,040	D

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)
Restricted Stock Units	⁽³⁾	05/04/2026		M			8,780	⁽⁴⁾	⁽⁴⁾	Common Stock	8,780	$0	17,570	D
Restricted Stock Units	⁽³⁾	05/04/2026		M			4,900	⁽⁵⁾	⁽⁵⁾	Common Stock	4,900	$0	29,350	D
Restricted Stock Units	⁽³⁾	05/04/2026		M			4,748	⁽⁶⁾	⁽⁶⁾	Common Stock	4,748	$0	47,481	D

Explanation of Responses:

1. Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.

2. Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.

3. Each RSU represents a contingent right to receive one share of Netflix common stock.

4. On January 25, 2024, the Reporting Person was granted 105,380 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024 (or, to the extent it is not a trading day, the first trading day thereafter).

5. On January 23, 2025, the Reporting Person was granted 58,700 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2025 (or, to the extent it is not a trading day, the first trading day thereafter).

6. On January 22, 2026, the Reporting Person was granted 56,977 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2026 (or, to the extent it is not a trading day, the first trading day thereafter).

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Spencer Neumann	05/05/2026
	** 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