Netflix (NFLX) Co-CEO Theodore Sarandos receives 168,216 RSUs in equity grant

Rhea-AI Filing Summary

Netflix Inc. disclosed a new equity award for Co-CEO and director Theodore A. Sarandos. On January 22, 2026, he received 168,216 restricted stock units (RSUs), each representing a contingent right to receive one share of Netflix common stock. The RSUs were granted at a stated price of $0 per unit as part of his compensation.

According to the award terms, 1/12th of the RSUs will vest on a quarterly basis beginning on February 3, 2026, or the first trading day thereafter, so the units vest gradually over time. Following this grant, Sarandos beneficially owned 168,216 derivative securities in the form of RSUs, held directly.

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

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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).

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 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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

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	(1)	01/22/2026		A		168,216		(2)	(2)	Common Stock	168,216	$0	168,216	D

Explanation of Responses:

1. Each restricted stock unit (RSU) represents a contingent right to receive one share of Netflix common stock.

2. Subject to the terms and conditions of the underlying award agreements, 1/12th of the RSUs will 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	01/23/2026
	** 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.

FAQ

What insider transaction did Netflix (NFLX) report for Theodore A. Sarandos?

Netflix reported that Co-CEO and director Theodore A. Sarandos received an award of 168,216 restricted stock units (RSUs) on January 22, 2026, held as a derivative security.

How many Netflix (NFLX) RSUs were granted to Theodore A. Sarandos and at what price?

The filing shows a grant of 168,216 restricted stock units to Theodore A. Sarandos at a stated price of $0 per unit, reflecting a compensation award rather than an open-market purchase.

How do the new RSUs for Netflix Co-CEO Theodore A. Sarandos vest?

The award provides that 1/12th of the RSUs will vest on a quarterly basis, beginning on February 3, 2026 (or the first trading day thereafter), so the grant vests in equal installments over time.

What does each Netflix (NFLX) restricted stock unit granted to Theodore A. Sarandos represent?

Each restricted stock unit (RSU) represents a contingent right to receive one share of Netflix common stock, according to the footnote in the filing.

Is Theodore A. Sarandos’ RSU award in the Netflix (NFLX) filing held directly or indirectly?

The Form 4 indicates that the 168,216 RSUs are held with direct ownership by Theodore A. Sarandos, with no separate entity listed for indirect beneficial ownership.

What position does Theodore A. Sarandos hold at Netflix (NFLX) in this insider transaction?

The reporting person, Theodore A. Sarandos, is identified as both a director and an officer, with the officer title listed as Co-CEO of Netflix Inc.