Were the recent Netflix (NFLX) CFO share sales pre-planned?

Yes. The filing states the transactions were made pursuant to a Rule 10b5-1 trading plan. This plan was adopted on October 23, 2025, meaning the sales were scheduled in advance under predefined trading instructions.

Netflix (NASDAQ: NFLX) CFO exercises options, sells 57,260 shares

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Netflix CFO Spencer Neumann reported multiple transactions in company stock. He exercised non-qualified stock options covering 57,260 shares of common stock at exercise prices of $32.981 and $35.800 per share, then sold 57,260 common shares in two open-market transactions at $95.000 and $96.000 per share. After these trades, he directly owned 73,787 Netflix shares. The filing notes the sales were made under a Rule 10b5-1 trading plan adopted on 10/23/2025, indicating they were pre-scheduled rather than discretionary trades.

Insider Trade Summary

Net Seller: 57,260 shares ($5,468,330)

Net Sell 6 txns

Insider Neumann Spencer Adam

Role Chief Financial Officer

Sold 57,260 shs ($5.47M)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	31,580	$0.00	--
Exercise	Non-Qualified Stock Option (right to buy)	25,680	$0.00	--
Exercise	Common Stock	31,580	$32.981	$1.04M
Exercise	Common Stock	25,680	$35.80	$919K
Sale	Common Stock	28,630	$95.00	$2.72M
Sale	Common Stock	28,630	$96.00	$2.75M

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 shares (Direct); Common Stock — 105,367 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/02/2026 - 08:14 PM

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

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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)
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	02/27/2026		M		31,580⁽¹⁾	A	$32.981	105,367	D
Common Stock	02/27/2026		M		25,680⁽¹⁾	A	$35.8	131,047	D
Common Stock	02/27/2026		S		28,630⁽¹⁾	D	$95	102,417	D
Common Stock	02/27/2026		S		28,630⁽¹⁾	D	$96	73,787	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)
Non-Qualified Stock Option (right to buy)	$32.981	02/27/2026		M			31,580⁽¹⁾	01/02/2020	01/02/2030	Common Stock	31,580	$0	0	D
Non-Qualified Stock Option (right to buy)	$35.8	02/27/2026		M			25,680⁽¹⁾	02/03/2020	02/03/2030	Common Stock	25,680	$0	6,330	D

Explanation of Responses:

1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 10/23/2025.

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Spencer Neumann	03/02/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

Netflix reported that CFO Spencer Neumann exercised stock options and sold common shares. He acquired 57,260 shares through option exercises, then sold 57,260 shares in open-market trades, ending with 73,787 Netflix shares held directly.

How many Netflix (NFLX) shares did the CFO sell and at what prices?

The CFO sold 57,260 Netflix common shares in total. The sales occurred in two equal blocks of 28,630 shares, executed at prices of $95.000 and $96.000 per share in open-market transactions.

How many Netflix (NFLX) shares does the CFO own after these transactions?

Following the option exercises and subsequent sales, CFO Spencer Neumann directly owns 73,787 Netflix common shares. This closing balance is reported in the Form 4 as his total direct holdings after the last transaction on February 27, 2026.

What stock options did the Netflix (NFLX) CFO exercise?

He exercised non-qualified stock options covering 31,580 shares at an exercise price of $32.981 and 25,680 shares at $35.800. These option exercises converted derivative securities into Netflix common stock before the reported open-market sales.