Netflix Co-CEO Theodore A. Sarandos sells 27,312 shares

Sarandos's sale involved multiple trades priced from $66.135 to $66.25, while the reported figure is their weighted average.

Available on EDGAR 11/05/2026 - 08:25 PM EST Accepted by SEC EDGAR 11/05/2026 - 08:24 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Netflix Co-CEO Theodore A. Sarandos reported that 54,388 restricted stock units vested and settled in common stock on November 3, 2026, on a one-for-one basis. On that date, 27,076 shares were withheld to satisfy tax obligations at $62.34 per share. On November 4, he sold 27,312 shares at a weighted average price of $66.1998 per share. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 10 txns

Insider SARANDOS THEODORE A

Role Co-CEO

Sold 27,312 shs ($1.81M)

Approx. gross sale proceeds $1.81M

Type	Security	Shares	Price	Value
Sale	Common Stock F3	27,312	$66.1998	$1.81M
Exercise	Restricted Stock Units F4, F5	25,930	$0.00	$0.00
Exercise	Restricted Stock Units F4, F6	14,440	$0.00	$0.00
Exercise	Restricted Stock Units F4, F7	14,018	$0.00	$0.00
Exercise	Common Stock F1	14,018	--	--
Exercise	Common Stock F1	25,930	--	--
Exercise	Common Stock F1	14,440	--	--
Tax Withholding	Common Stock F2	6,979	$62.34	$435K
Tax Withholding	Common Stock F2	12,908	$62.34	$805K
Tax Withholding	Common Stock F2	7,189	$62.34	$448K

Holdings After Transaction: Restricted Stock Units — 169,914 contracts (Direct); Common Stock — 178,954 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 $66.135 to $66.25. 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 311,120 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 173,300 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 168,216 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

Restricted stock units settled: 54,388 RSUs Shares withheld for taxes: 27,076 shares Tax-withholding share price: $62.34 per share +3 more

6 metrics

Restricted stock units settled 54,388 RSUs Vested and settled one-for-one in common stock on November 3, 2026

Shares withheld for taxes 27,076 shares Shares withheld to satisfy tax withholding obligations on November 3, 2026

Tax-withholding share price $62.34 per share Price reported for shares withheld on November 3, 2026

Shares sold 27,312 shares Sale on November 4, 2026

Weighted average sale price $66.1998 per share Sale on November 4, 2026

Sale price range $66.135 to $66.25 per share Prices across multiple trades

Key Terms

restricted stock units, one-for-one basis, tax withholding obligations, weighted average sale price

4 terms

restricted stock units technical

"restricted stock units (RSUs) that following vesting, settled"

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.

one-for-one basis technical

"settled in shares of Netflix common stock on a one-for-one basis"

tax withholding obligations financial

"Shares withheld to satisfy tax withholding obligations"

weighted average sale price financial

"reflects the weighted average sale price"

FAQ

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

How many NFLX shares did Theodore A. Sarandos sell, and at what price?

He sold 27,312 shares on November 4, 2026, at a weighted average price of $66.1998 per share; the multiple trades ranged from $66.135 to $66.25. No Rule 10b5-1 plan is reported.

How many NFLX RSUs did Theodore A. Sarandos vest?

On November 3, 2026, 54,388 restricted stock units vested and settled in Netflix common stock on a one-for-one basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

SARANDOS THEODORE 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2026

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	11/03/2026		M		14,018	A	(1)	192,972	D
Common Stock	11/03/2026		M		25,930	A	(1)	218,902	D
Common Stock	11/03/2026		M		14,440	A	(1)	233,342	D
Common Stock	11/03/2026		F		6,979(2)	D	$62.34	226,363	D
Common Stock	11/03/2026		F		12,908(2)	D	$62.34	213,455	D
Common Stock	11/03/2026		F		7,189(2)	D	$62.34	206,266	D
Common Stock	11/04/2026		S		27,312	D	$66.1998(3)	178,954	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)	11/03/2026		M			25,930	(5)	(5)	Common Stock	25,930	$0	0	D
Restricted Stock Units	(4)	11/03/2026		M			14,440	(6)	(6)	Common Stock	14,440	$0	57,770	D
Restricted Stock Units	(4)	11/03/2026		M			14,018	(7)	(7)	Common Stock	14,018	$0	112,144	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 $66.135 to $66.25. 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 311,120 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 173,300 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 168,216 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: Theodore A. Sarandos	11/05/2026
	** 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)