Netflix CLO Hyman sells shares, exercises RSUs

Netflix Inc. Chief Legal Officer David A. Hyman reported RSU vesting, related tax withholding, and an open-market stock sale.

Rhea-AI Filing Summary

Netflix Inc. Chief Legal Officer David A. Hyman reported RSU vesting, related tax withholding, and an open-market stock sale. On May 4, 2026, restricted stock units converted into 11,399 shares of Netflix common stock, with 5,677 shares withheld to cover tax obligations.

On May 5, 2026, he completed an open-market sale of 5,722 shares of Netflix common stock at a weighted average price of $88.0847 per share. Following these transactions, Hyman directly holds 316,100 shares of Netflix common stock.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 10 txns

Insider HYMAN DAVID A

Role Chief Legal Officer

Sold 5,722 shs ($504K)

Approx. gross sale proceeds $504K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Common Stock	5,722	$88.0847	$504K
Exercise	Restricted Stock Units	5,430	$0.00	$0.00
Exercise	Restricted Stock Units	3,030	$0.00	$0.00
Exercise	Restricted Stock Units	2,939	$0.00	$0.00
Exercise	Common Stock	5,430	$0.00	$0.00
Exercise	Common Stock	3,030	$0.00	$0.00
Exercise	Common Stock	2,939	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,704	$92.06	$249K
Exercise Price or Tax Liability	Common Stock	1,509	$92.06	$139K
Exercise Price or Tax Liability	Common Stock	1,464	$92.06	$135K

Holdings After Transaction: Restricted Stock Units — 58,444 contracts (Direct); Common Stock — 316,100 shares (Direct)

Footnotes (7)

1. F1. Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
2. F2. Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
3. F3. This transaction was executed in multiple trades at prices ranging from $88.0825 to $88.085. 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. F4. Each RSU represents a contingent right to receive one share of Netflix common stock.
5. F5. On January 25, 2024, the Reporting Person was granted 65,240 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).
6. F6. On January 23, 2025, the Reporting Person was granted 36,340 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).
7. F7. On January 22, 2026, the Reporting Person was granted 35,272 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

Open-market sale: 5,722 shares at $88.0847 Shares held after transactions: 316,100 shares RSU conversions: 11,399 shares +4 more

7 metrics

Open-market sale 5,722 shares at $88.0847 Common Stock sale on May 5, 2026

Shares held after transactions 316,100 shares Direct ownership following May 2026 transactions

RSU conversions 11,399 shares Common shares received from RSU vesting on May 4, 2026

Tax-withholding shares 5,677 shares at $92.06 Shares withheld to satisfy tax obligations on May 4, 2026

Outstanding RSUs (2024 grant) 29,394 RSUs Remaining from January 25, 2024 grant after vesting activity

Outstanding RSUs (2025 grant) 18,170 RSUs Remaining from January 23, 2025 grant after vesting activity

Outstanding RSUs (2026 grant) 10,880 RSUs Remaining from January 22, 2026 grant after vesting activity

Key Terms

Restricted Stock Units, tax withholding obligations, weighted average sale price, contingent right

4 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

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

weighted average sale price financial

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

contingent right financial

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

FAQ

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

What insider transactions did Netflix (NFLX) Chief Legal Officer David Hyman report?

David Hyman reported RSU vesting that converted into 11,399 shares of Netflix common stock, tax-withholding dispositions of 5,677 shares, and an open-market sale of 5,722 shares. These moves reflect routine equity compensation activity and a subsequent stock sale.

How many Netflix (NFLX) shares did David Hyman sell and at what price?

David Hyman sold 5,722 shares of Netflix common stock in an open-market transaction at a weighted average price of $88.0847 per share. The sale was executed in multiple trades within a narrow price range around this reported average.

How many Netflix (NFLX) shares does David Hyman hold after these transactions?

After the reported transactions, David Hyman directly holds 316,100 shares of Netflix common stock. This figure reflects his position following RSU conversions, tax-withholding share dispositions, and the open-market sale disclosed in the Form 4 filing.

What role did restricted stock units (RSUs) play in David Hyman’s Netflix (NFLX) transactions?

RSUs vested and settled on a one-for-one basis into 11,399 Netflix common shares. Footnotes state each RSU represents a contingent right to receive one share, and these RSUs vest quarterly under previously granted award agreements dated 2024, 2025, and 2026.

Were any of David Hyman’s Netflix (NFLX) transactions related to tax withholding?

Yes. The filing shows 5,677 shares classified as dispositions under code F at $92.06 per share. Footnotes explain these shares were withheld to satisfy tax withholding obligations arising from RSU vesting, rather than being sold in the open market.

How many Netflix (NFLX) RSUs remain outstanding for David Hyman after these transactions?

After the RSU conversions reported, David Hyman still holds 29,394 RSUs, 18,170 RSUs, and 10,880 RSUs from three separate grants. Footnotes describe those grants and note that one-twelfth of each grant vests quarterly beginning in early February of each grant year.

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 - 06:41 PM Learn about SEC filing dates

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^*

HYMAN DAVID A

(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 Legal 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/04/2026		M		5,430	A	(1)	321,530	D
Common Stock	05/04/2026		M		3,030	A	(1)	324,560	D
Common Stock	05/04/2026		M		2,939	A	(1)	327,499	D
Common Stock	05/04/2026		F		2,704(2)	D	$92.06	324,795	D
Common Stock	05/04/2026		F		1,509(2)	D	$92.06	323,286	D
Common Stock	05/04/2026		F		1,464(2)	D	$92.06	321,822	D
Common Stock	05/05/2026		S		5,722	D	$88.0847(3)	316,100	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(4)	05/04/2026		M			5,430	(5)	(5)	Common Stock	5,430	$0	10,880	D
Restricted Stock Units	(4)	05/04/2026		M			3,030	(6)	(6)	Common Stock	3,030	$0	18,170	D
Restricted Stock Units	(4)	05/04/2026		M			2,939	(7)	(7)	Common Stock	2,939	$0	29,394	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. This transaction was executed in multiple trades at prices ranging from $88.0825 to $88.085. 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. Each RSU represents a contingent right to receive one share of Netflix common stock.

5. On January 25, 2024, the Reporting Person was granted 65,240 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).

6. On January 23, 2025, the Reporting Person was granted 36,340 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).

7. On January 22, 2026, the Reporting Person was granted 35,272 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: David A. Hyman	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)