Netflix (NFLX) CFO sells 28,630 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Netflix Chief Financial Officer Spencer Neumann reported a combination of option exercises and share sales in company stock. He exercised non-qualified stock options for 7,770 shares at $38.105 and 20,860 shares at $36.408 per share, receiving an equal number of common shares.
On the same date, he sold 28,630 common shares at $98 per share in an open-market transaction, matching the total shares acquired from these option exercises. After the sale, he directly owned 73,787 Netflix common shares.
The filing notes these transactions were made under a Rule 10b5-1 trading plan adopted on October 23, 2025, indicating the trades were pre-scheduled rather than timed discretionarily.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 28,630 shares ($2,805,740)
Net Sell
5 txns
Insider
Neumann Spencer Adam
Role
Chief Financial Officer
Sold
28,630 shs ($2.81M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 7,770 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option (right to buy) | 20,860 | $0.00 | -- |
| Exercise | Common Stock | 7,770 | $38.105 | $296K |
| Exercise | Common Stock | 20,860 | $36.408 | $759K |
| Sale | Common Stock | 28,630 | $98.00 | $2.81M |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 0 shares (Direct);
Common Stock — 81,557 shares (Direct)
Footnotes (1)
- [object Object]
Key Figures
Options exercised at $38.105: 7,770 shares at $38.105
Options exercised at $36.408: 20,860 shares at $36.408
Shares sold: 28,630 shares at $98
+2 more
5 metrics
Options exercised at $38.105
7,770 shares at $38.105
Non-qualified stock option exercise on April 2, 2026
Options exercised at $36.408
20,860 shares at $36.408
Non-qualified stock option exercise on April 2, 2026
Shares sold
28,630 shares at $98
Open-market sale of Netflix common stock on April 2, 2026
Shares owned after transactions
73,787 shares
Direct Netflix common stock holdings after April 2, 2026 transactions
Total options exercised
28,630 shares
Aggregate derivative exercises reported in the filing
Key Terms
Non-Qualified Stock Option, Rule 10b5-1 trading plan, open-market sale, derivative security
4 terms
Non-Qualified Stock Option financial
"security_title":"Non-Qualified Stock Option (right to buy)"
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
Rule 10b5-1 trading plan financial
"Transaction made pursuant to a Rule 10b5-1 trading plan"
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.
open-market sale financial
"transaction_action":"open-market sale"
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.
derivative security financial
"transaction_code_description":"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What insider transactions did Netflix (NFLX) CFO Spencer Neumann report?
Netflix CFO Spencer Neumann exercised options for 28,630 shares and sold 28,630 common shares. The options had exercise prices of $38.105 and $36.408, while the sale price was $98 per share in an open-market transaction.
What type of securities did the Netflix (NFLX) CFO exercise in this Form 4?
He exercised non-qualified stock options, each representing the right to buy Netflix common stock. The transactions covered 7,770 options at $38.105 and 20,860 options at $36.408, converting these derivative positions into common shares before the subsequent sale.