Netflix director sells 35,990 shares after option exercise
Netflix Inc. director Bradford L. Smith reported a combination of stock option exercises and share sales.
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Form Type
4
Rhea-AI Filing Summary
Netflix Inc. director Bradford L. Smith reported a combination of stock option exercises and share sales. On June 17, 2026, he exercised non-qualified stock options for 35,990 shares of common stock at exercise prices between $9.4370 and $12.3300 per share.
On the same date, he executed open-market sales totaling 35,990 shares of Netflix common stock at weighted average prices of $77.2089 and $78.0097 per share, under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, Smith directly owns 79,690 shares of Netflix common stock.
Insider Trade Summary 10b5-1
Exercise and Sale: 35,990 shares ($2.41M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
SMITH BRADFORD L
Role
Director
Sold
35,990 shs ($2.79M)
Approx. gross sale proceeds
$2.79M
Approx. exercise cost
$375K
Approx. pre-tax spread
$2.41M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 6,460 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (right to buy) | 6,620 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (right to buy) | 6,420 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (right to buy) | 6,090 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (right to buy) | 5,070 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (right to buy) | 5,330 | $0.00 | $0.00 |
| Exercise | Common Stock | 6,460 | $9.667 | $62K |
| Exercise | Common Stock | 6,620 | $9.437 | $62K |
| Exercise | Common Stock | 6,420 | $9.738 | $63K |
| Exercise | Common Stock | 6,090 | $10.263 | $63K |
| Exercise | Common Stock | 5,070 | $12.33 | $63K |
| Exercise | Common Stock | 5,330 | $11.722 | $62K |
| Sale | Common Stock | 22,190 | $77.2089 | $1.71M |
| Sale | Common Stock | 13,800 | $78.0097 | $1.08M |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 79,690 shares (Direct)
Footnotes (3)
- F1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 2/10/2025.
- F2. This transaction was executed in multiple trades at prices ranging from $76.79 to $77.78. 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 $77.79 to $78.38. 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.
Key Figures
Shares sold: 35,990 shares
Sale price (block 1): $77.2089 per share
Sale price (block 2): $78.0097 per share
+5 more
8 metrics
Shares sold
35,990 shares
Open-market sales on June 17, 2026
Sale price (block 1)
$77.2089 per share
Weighted average price for one sale tranche
Sale price (block 2)
$78.0097 per share
Weighted average price for second sale tranche
Options exercised
35,990 shares
Non-qualified stock options converted to common stock
Lowest exercise price
$9.4370 per share
One of the non-qualified stock option grants
Highest exercise price
$12.3300 per share
Highest strike among options exercised
Shares held after transactions
79,690 shares
Direct Netflix common stock ownership post-trade
Trading plan adoption date
February 10, 2025
Rule 10b5-1 plan covering these sales
Key Terms
Rule 10b5-1 trading plan, Non-Qualified Stock Option (right to buy), open-market sale, weighted average sale price, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 2/10/2025."
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-Qualified Stock Option (right to buy) financial
"Security title listed as Non-Qualified Stock Option (right to buy) with underlying common stock."
open-market sale financial
"Transaction action described as open-market sale with code S."
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.
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
derivative exercise/conversion financial
"Transaction action noted as derivative exercise/conversion with code M."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Netflix (NFLX) director Bradford L. Smith do in this Form 4?
Bradford L. Smith exercised stock options for 35,990 shares of Netflix common stock, then sold the same number of shares in open-market transactions on June 17, 2026, while remaining a significant shareholder.
What stock options did Bradford L. Smith exercise in this Netflix (NFLX) filing?
Smith exercised non-qualified stock options covering 35,990 shares of Netflix common stock, with exercise prices ranging from $9.4370 to $12.3300 per share, converting these derivative positions into common shares before selling shares the same day.
What is the overall effect of Bradford L. Smith’s June 17, 2026 Netflix (NFLX) trades?
The combined activity is an exercise-and-sell pattern: he exercised options for 35,990 shares and sold the same number in the market, resulting in a net disposition of shares while still retaining a sizable direct holding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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