Reed Hastings (NFLX) exercises options and sells 410,550 shares

Rhea-AI Filing Summary

Netflix director Reed Hastings reported multiple transactions in Netflix common stock and options. He exercised a non-qualified stock option for 410,550 shares of common stock at a price of $9.667 per share and received a separate grant of 643 non-qualified stock options.

On the same date, he sold a total of 410,550 shares of common stock in three open-market transactions at weighted average prices of $96.0572, $96.9191, and $97.5869, under a Rule 10b5-1 trading plan adopted on 8/8/2023. Following these trades, he holds 3,940 shares directly and 21,159,576 shares indirectly as trustee of the Hastings-Quillin Family Trust.

Insights

Equity compensation and insider-trading analyst

Hastings exercised options and sold 410,550 Netflix shares under a pre-set 10b5-1 plan.

Reed Hastings converted a non-qualified stock option into 410,550 shares of Netflix common stock at an exercise price of $9.667 per share and received an additional grant of 643 options. These moves reflect routine equity compensation usage and option monetization.

He then sold 410,550 shares in open-market transactions at weighted average prices between $96.0572 and $97.5869, pursuant to a Rule 10b5-1 trading plan adopted on 8/8/2023. After the sales, direct holdings are 3,940 shares, while indirect holdings by the Hastings-Quillin Family Trust, where he serves as trustee, total 21,159,576 shares. The net effect is a sizeable planned sale but with a large remaining indirect position.

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).

X

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 CA 95032

(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)
03/02/2026

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
Common Stock	03/02/2026		M		410,550(1)	A	$9.667	414,490	D
Common Stock	03/02/2026		S		54,681(1)	D	$96.0572(2)	359,809	D
Common Stock	03/02/2026		S		227,680(1)	D	$96.9191(3)	132,129	D
Common Stock	03/02/2026		S		128,189(1)	D	$97.5869(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$9.667	03/02/2026		M			410,550(1)	07/01/2016	07/01/2026	Common Stock	410,550	$0	0	D
Non-Qualified Stock Option (right to buy)	$97.09	03/02/2026		A		643		03/02/2026	03/02/2036	Common Stock	643	$0	643	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 $95.33 to $96.324. 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 $96.3315 to $97.3249. 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 $97.3254 to $98.0541. 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	03/03/2026
	** 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.

FAQ

What did Reed Hastings transact in Netflix (NFLX) stock on this Form 4?

Reed Hastings exercised options for 410,550 Netflix shares, received 643 new non-qualified stock options, and sold 410,550 common shares in three open-market transactions. All reported trades occurred on the same transaction date disclosed in the filing.

How many Netflix (NFLX) shares did Reed Hastings sell and at what prices?

He sold 410,550 Netflix common shares in three open-market transactions. The weighted average sale prices were $96.0572, $96.9191, and $97.5869 per share, with each sale described in detail as executed across multiple trades within specified price ranges.

Were Reed Hastings’ Netflix (NFLX) stock sales under a Rule 10b5-1 plan?

Yes. A footnote states the transactions were made under a Rule 10b5-1 trading plan adopted on 8/8/2023. Such plans pre-schedule trades, aiming to separate trading decisions from later non-public information and provide structured selling over time.

How many Netflix (NFLX) shares does Reed Hastings own after these transactions?

After the reported trades, Reed Hastings directly owns 3,940 Netflix common shares. He also has indirect ownership of 21,159,576 shares held by the Hastings-Quillin Family Trust, where he serves as trustee, according to the holding information and accompanying footnote.

What options-related activity did Reed Hastings report for Netflix (NFLX)?

He exercised a non-qualified stock option covering 410,550 shares at an exercise price of $9.667 per share, converting it into common stock. Separately, he reported a grant or acquisition of 643 non-qualified stock options, increasing his derivative equity-based compensation position.

What is the nature of Reed Hastings’ indirect Netflix (NFLX) holdings?

The filing shows 21,159,576 Netflix shares held indirectly “by Trust.” A footnote clarifies this is as trustee of the Hastings-Quillin Family Trust, indicating the large position is held through that trust structure rather than as a direct personal holding.