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

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.

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

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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^*

Neumann Spencer Adam

(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)

	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)
			Code	V	Amount	(A) or (D)	Price
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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
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).
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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.

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.

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.