[Form 4] NETFLIX INC Insider Trading Activity

Rhea-AI Filing Summary

Netflix (NFLX) insider update: CFO Spencer Neumann reported routine equity comp activity on 11/03/2025. Two RSU tranches vested and settled 1-for-1 into common stock—878 shares and 489 shares.

To cover taxes from the RSU vesting, shares were withheld: 438 shares at $1,118.86 and 244 shares at $1,118.86. He also executed an open-market sale of 695 shares at $1,093.78. Following these transactions, he directly held 3,681 shares of common stock.

Insights

Equity compensation analyst

Routine RSU vesting, tax withholdings, and a modest sale.

Spencer Neumann recorded standard RSU settlements on 11/03/2025, converting 878 and 489 units into common shares at $0 exercise cost, consistent with RSU mechanics. Shares were withheld to satisfy taxes: 438 and 244 at $1,118.86.

He also sold 695 shares at $1,093.78. After these moves, directly held common shares were 3,681. These actions reflect normal equity compensation administration; actual market impact depends on trade size and timing relative to daily volume.

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).

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)
11/03/2025

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	11/03/2025		M		878	A	(1)	4,569	D
Common Stock	11/03/2025		M		489	A	(1)	5,058	D
Common Stock	11/03/2025		F		438(2)	D	$1,118.86	4,620	D
Common Stock	11/03/2025		F		244(2)	D	$1,118.86	4,376	D
Common Stock	11/03/2025		S		695	D	$1,093.78	3,681	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	(3)	11/03/2025		M			878	(4)	(4)	Common Stock	878	$0	3,513	D
Restricted Stock Units	(3)	11/03/2025		M			489	(5)	(5)	Common Stock	489	$0	3,914	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. Each RSU represents a contingent right to receive one share of Netflix common stock.

4. On January 25, 2024, the Reporting Person was granted 10,538 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).

5. On January 23, 2025, the Reporting Person was granted 5,870 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).

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Spencer Neumann	11/05/2025
	** 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 did NFLX’s CFO report on Form 4?

On 11/03/2025, RSUs vested and settled into 878 and 489 common shares, with tax withholdings and a sale executed.

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

He sold 695 shares at $1,093.78.

How were taxes handled on the RSU vesting for NFLX’s CFO?

Shares were withheld for taxes: 438 and 244 at $1,118.86.

How many NFLX shares did the CFO hold after the transactions?

He directly held 3,681 shares after the reported transactions.

What RSU amounts vested for the NFLX CFO on the reported date?

878 and 489 RSUs vested and settled into common stock on 11/03/2025.