NFLX insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Richard Barton Director	720	$75.27	18%	3.3K	Sep 10, 2026	Sep 10, 2026

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Richard Barton Director	720	$76.26	18%	3.3K	Sep 9, 2026	Sep 10, 2026

What stands out

Four officers sold $18.0M with no disclosed plan: Gregory Peters ($8.9M), Theodore Sarandos ($4.6M) and Spencer Neumann ($3.0M), plus 1 more. The filings don't state a reason.Gregory Peters: largest such sale, May 7, 2026 · Theodore Sarandos: largest such sale, Nov 4, 2025 · Spencer Neumann: largest such sale, May 7, 2026

Percentages cover 4 of 18 officers and directors. 14 are left out

Left out: Jay Hoag (most holdings were last confirmed in 2023); David Hyman, Theodore Sarandos, Gregory Peters, Brad Smith and Spencer Neumann (most of their shares vested during the period, so a percentage would mislead); Richard Barton (most holdings were last confirmed in 2021); Timothy Haley, Ann Mather, Anne Sweeney, Susan Rice, Strive Masiyiwa, Jeffrey Karbowski and Cletus Willems (held no vested shares at the start).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period

Reed Hastings

Director

15% · $309MDisclosed plan

David Hyman

Chief Legal Officer

No bar: most of their shares vested during the period, so a percentage would mislead.

$38.1M96% planned

Gregory Peters

Co-CEO, Director

No bar: most of their shares vested during the period, so a percentage would mislead.

$17.7M50% planned

Spencer Neumann

Chief Financial Officer

No bar: most of their shares vested during the period, so a percentage would mislead.

$16.9M82% planned

Theodore Sarandos

Co-CEO, Director

No bar: most of their shares vested during the period, so a percentage would mislead.

$14.3M68% planned

All 8 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed

Outside holders, reported separately

Jay Hoag reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Netflix Inc CEO selling stock?

Yes. Theodore Sarandos sold 181K shares ($14.3M) in the past 12 months, 68% of it under a trading plan disclosed in the filings.

Why are Netflix Inc insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 95% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 5% had no disclosed plan. A trading plan schedules sales in advance.

Are any Netflix Inc insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Netflix Inc insiders sell?

About 15% overall. As a group they still hold 98% of their starting shares. These figures leave out Jay Hoag, the largest holder (most holdings were last confirmed in 2023). That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold8 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Reed Hastings Director	$309M 3.22M shares	15%	Disclosed plan
David Hyman Chief Legal Officer	$38.1M 355K shares	i No percentage: most of their shares vested during the period, so a percentage would mislead.	96% under a disclosed plan
Gregory Peters Co-CEO, Director	$17.7M 208K shares	i No percentage: most of their shares vested during the period, so a percentage would mislead.	50% under a disclosed plan
Spencer Neumann Chief Financial Officer	$16.9M 175K shares	i No percentage: most of their shares vested during the period, so a percentage would mislead.	82% under a disclosed plan
Theodore Sarandos Co-CEO, Director	$14.3M 181K shares	i No percentage: most of their shares vested during the period, so a percentage would mislead.	68% under a disclosed plan
Brad Smith Director	$5.6M 68K shares	i No percentage: most of their shares vested during the period, so a percentage would mislead.	Disclosed plan
Cletus Willems Chief Global Affairs Officer	$521K 5.5K shares	i No percentage: held no vested shares at the start.	No plan disclosed
Richard Barton Director	$327K 4.3K shares	i No percentage: most holdings were last confirmed in 2021.	Disclosed plan

Board members representing outside shareholders, reported separately: Jay Hoag. Details

The full ownership picture18 of 18 insiders fully reconciled · 12 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 8, 2025

Sold

Held Oct 8, 2026

Still held

Reed Hastings

Includes unvested RSUs, amount not disclosed. Starting holdings restated for a probable stock split.

Director

21.55M

−3.22M

21.16M

98%

Vesting, gifts, unvested awards and holding lines for Reed Hastings

+3.22Mshares vested or exercised

−383Kgifted (net of own trusts)

7.7K → 7.7Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	3,940	3,940
Trust	Common Stock	21,542,410	21,159,576

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,390	$42.02	Nov 1, 2033	$412K
11,180	$46.57	Dec 1, 2033	$321K
11,120	$46.85	Jan 2, 2034	$316K
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
480	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
520	$121.41	Sep 2, 2035	$0
530	$117.09	Oct 1, 2035	$0
570	$110.01	Nov 3, 2035	$0
576	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
756	$82.76	Feb 2, 2036	$0
643	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Jay Hoag

Most of this insider's holdings were last confirmed in 2023. Confirmed in the last three years: 5,489,860 shares. Not confirmed since: 11,480,020 shares, left out of this row. "Still held" is not shown because it would cover only the smaller, confirmed part.

Director

5.49M

see note

Vesting, gifts, unvested awards and holding lines for Jay Hoag

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held through Orange (A) Investor, L.P; the director disclaims ownership beyond their own interest.
Held through Orange (B) Investor, L.P; the director disclaims ownership beyond their own interest.
Held through Orange (MF) Investor, L.P; the director disclaims ownership beyond their own interest.
Held through Orange Investor, L.P; the director disclaims ownership beyond their own interest.
Shares held through Hamilton Investments II, Limited Partnership, Hamilton Investments Limited Partnership, TCV II (Q), L.P and others belong to an outside shareholder this director represents; they are listed under "Board members representing outside shareholders", not here.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Orange Investor, L.P	Common Stock	2,561,720	2,561,720
Hoag Family Trust, dated August 2, 1994	Common Stock	1,889,860	1,889,860
Orange (A) Investor, L.P	Common Stock	690,810	690,810
Orange (MF) Investor, L.P	Common Stock	188,350	188,350
Orange (B) Investor, L.P	Common Stock	159,120	159,120

Additional holdings last reported Jul 26, 2023, not confirmed since: 11,480,020 shares. Not included in any total or percentage on this page.

Hoag Family Trust U/A/ Dtd 8/2/94, Common Stock: 4,469,780 shares, last reported May 1, 2013
Hoag Family Trust V/A DTD 08/02/1994, Common Stock: 4,243,000 shares, last reported Jul 26, 2023
Kimball Family Trust Utd Dtd 2/23/94, Common Stock: 1,062,320 shares, last reported Feb 9, 2009
Griffith Family 2004 Trust, Common Stock: 1,004,920 shares, last reported Aug 10, 2010
Kimball Family Trust Uta Dtd 2/23/94, Common Stock: 700,000 shares, last reported Apr 28, 2010

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,010	$61.93	Mar 1, 2034	$13K
1,020	$61.43	Apr 1, 2034	$14K
1,130	$55.18	May 1, 2034	$23K
980	$63.38	Jun 3, 2034	$12K
930	$67.36	Jul 1, 2034	$7K
1,000	$62.48	Aug 1, 2034	$13K
930	$67.53	Sep 3, 2034	$7K
880	$70.61	Oct 1, 2034	$4K
830	$75.61	Nov 1, 2034	$0
690	$89.77	Dec 2, 2034	$0
710	$88.67	Jan 2, 2035	$0
640	$97.89	Feb 3, 2035	$0
640	$97.37	Mar 3, 2035	$0
670	$92.84	Apr 1, 2035	$0
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
490	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
581	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
755	$82.76	Feb 2, 2036	$0
644	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0
842	$74.19	Jul 1, 2036	$909
852	$73.33	Aug 3, 2036	$2K
774	$80.81	Sep 1, 2036	$0
921	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Leslie Kilgore

Starting holdings restated for a probable stock split.

Director

354K

no sales

Vesting, gifts, unvested awards and holding lines for Leslie Kilgore

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	353,960	353,960

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,480	$42.02	Nov 1, 2033	$49K
1,340	$46.57	Dec 1, 2033	$38K
1,340	$46.85	Jan 2, 2034	$38K
1,100	$56.75	Feb 1, 2034	$20K
1,010	$61.93	Mar 1, 2034	$13K
1,020	$61.43	Apr 1, 2034	$14K
1,130	$55.18	May 1, 2034	$23K
980	$63.38	Jun 3, 2034	$12K
930	$67.36	Jul 1, 2034	$7K
1,000	$62.48	Aug 1, 2034	$13K
930	$67.53	Sep 3, 2034	$7K
880	$70.61	Oct 1, 2034	$4K
830	$75.61	Nov 1, 2034	$0
690	$89.77	Dec 2, 2034	$0
710	$88.67	Jan 2, 2035	$0
640	$97.89	Feb 3, 2035	$0
640	$97.37	Mar 3, 2035	$0
670	$92.84	Apr 1, 2035	$0
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
490	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
581	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
755	$82.76	Feb 2, 2036	$0
644	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0
842	$74.19	Jul 1, 2036	$909
852	$73.33	Aug 3, 2036	$2K
774	$80.81	Sep 1, 2036	$0
921	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

David Hyman

Includes unvested RSUs, amount not disclosed. Starting holdings restated for a probable stock split.

Chief Legal Officer

316K

−355K

316K

not meaningful

Vesting, gifts, unvested awards and holding lines for David Hyman

+353Kshares vested or exercised

0gifted (net of own trusts)

−41Kwithheld by the company for taxes

54K → 47Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	316,100	316,100

Theodore Sarandos

Includes unvested RSUs, amount not disclosed. Starting holdings restated for a probable stock split.

Co-CEO, Director

152K

−181K

179K

not meaningful

Vesting, gifts, unvested awards and holding lines for Theodore Sarandos

+204Kshares vested or exercised

0gifted (net of own trusts)

−203Kwithheld by the company for taxes

260K → 224Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	151,680	178,954

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
117,600	$19.29	Jun 1, 2032	$6.6M
99,160	$42.02	Nov 1, 2033	$3.3M
89,460	$46.57	Dec 1, 2033	$2.6M
88,940	$46.85	Jan 2, 2034	$2.5M

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Gregory Peters

Includes unvested RSUs, amount not disclosed. Starting holdings restated for a probable stock split.

Co-CEO, Director

128K

−208K

121K

not meaningful

Vesting, gifts, unvested awards and holding lines for Gregory Peters

+204Kshares vested or exercised

−6.9Kgifted (net of own trusts)

−203Kwithheld by the company for taxes

260K → 224Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	127,810	120,931

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,570,510	n/a	n/a	n/a

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Brad Smith

Starting holdings restated for a probable stock split.

Director

80K

−68K

80K

not meaningful

Vesting, gifts, unvested awards and holding lines for Brad Smith

Name on SEC filings: Bradford Smith (SMITH BRADFORD L).

+68Kshares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	79,690	79,690

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,480	$42.02	Nov 1, 2033	$49K
1,340	$46.57	Dec 1, 2033	$38K
1,340	$46.85	Jan 2, 2034	$38K
1,100	$56.75	Feb 1, 2034	$20K
1,010	$61.93	Mar 1, 2034	$13K
1,020	$61.43	Apr 1, 2034	$14K
1,130	$55.18	May 1, 2034	$23K
980	$63.38	Jun 3, 2034	$12K
930	$67.36	Jul 1, 2034	$7K
1,000	$62.48	Aug 1, 2034	$13K
930	$67.53	Sep 3, 2034	$7K
880	$70.61	Oct 1, 2034	$4K
830	$75.61	Nov 1, 2034	$0
690	$89.77	Dec 2, 2034	$0
710	$88.67	Jan 2, 2035	$0
640	$97.89	Feb 3, 2035	$0
640	$97.37	Mar 3, 2035	$0
670	$92.84	Apr 1, 2035	$0
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
490	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
581	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
755	$82.76	Feb 2, 2036	$0
644	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0
842	$74.19	Jul 1, 2036	$909
852	$73.33	Aug 3, 2036	$2K
774	$80.81	Sep 1, 2036	$0
921	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Spencer Neumann

Minor difference of 100 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed. Starting holdings restated for a probable stock split.

Chief Financial Officer

37K

−175K

74K

not meaningful

Vesting, gifts, unvested awards and holding lines for Spencer Neumann

+209Kshares vested or exercised

0gifted (net of own trusts)

−68Kwithheld by the company for taxes

88K → 76Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	36,910	73,787

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
10,610	$36.41	Apr 1, 2030	$412K
34,710	$42.02	Nov 1, 2033	$1.2M
31,310	$46.57	Dec 1, 2033	$898K
31,130	$46.85	Jan 2, 2034	$885K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Reconciliation: minor difference of 100 shares. Difference is under 0.5% of holdings.

Elinor Mertz

Starting holdings restated for a probable stock split.

Director

25K

no sales

Vesting, gifts, unvested awards and holding lines for Elinor Mertz

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	24,500	24,500

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
480	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
582	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
755	$82.76	Feb 2, 2036	$0
644	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0
843	$74.19	Jul 1, 2036	$910
852	$73.33	Aug 3, 2036	$2K
773	$80.81	Sep 1, 2036	$0
922	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Richard Barton

Most of this insider's holdings were last confirmed in 2021. Confirmed in the last three years: 3,260 shares. Not confirmed since: 100,000 shares, left out of this row. "Still held" is not shown because it would cover only the smaller, confirmed part.

Director

3.3K

−4.3K

3.3K

see note

Vesting, gifts, unvested awards and holding lines for Richard Barton

+4.3Kshares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	2,460	2,460
Barton Ventures II, LLC	Common Stock	800	800

Additional holdings last reported Oct 29, 2021, not confirmed since: 100,000 shares. Not included in any total or percentage on this page.

Foundation, Common Stock: 100,000 shares, last reported Oct 29, 2021

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,480	$42.02	Nov 1, 2033	$49K
1,340	$46.57	Dec 1, 2033	$38K
1,340	$46.85	Jan 2, 2034	$38K
1,100	$56.75	Feb 1, 2034	$20K
1,010	$61.93	Mar 1, 2034	$13K
1,020	$61.43	Apr 1, 2034	$14K
1,130	$55.18	May 1, 2034	$23K
980	$63.38	Jun 3, 2034	$12K
930	$67.36	Jul 1, 2034	$7K
1,000	$62.48	Aug 1, 2034	$13K
930	$67.53	Sep 3, 2034	$7K
880	$70.61	Oct 1, 2034	$4K
830	$75.61	Nov 1, 2034	$0
690	$89.77	Dec 2, 2034	$0
710	$88.67	Jan 2, 2035	$0
640	$97.89	Feb 3, 2035	$0
640	$97.37	Mar 3, 2035	$0
670	$92.84	Apr 1, 2035	$0
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
490	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
581	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
755	$82.76	Feb 2, 2036	$0
644	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
728	$85.85	Jun 1, 2036	$0
842	$74.19	Jul 1, 2036	$909
852	$73.33	Aug 3, 2036	$2K
774	$80.81	Sep 1, 2036	$0
1,150	$26.51	Feb 1, 2028	$56K
921	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Mathias Dopfner

Starting holdings restated for a probable stock split.

Director

250

no sales

Vesting, gifts, unvested awards and holding lines for Mathias Dopfner

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	250	250

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
990	$59.74	Jan 3, 2032	$15K
1,480	$42.02	Nov 1, 2033	$49K
1,350	$46.57	Dec 1, 2033	$39K
1,330	$46.85	Jan 2, 2034	$38K
1,100	$56.75	Feb 1, 2034	$20K
1,010	$61.93	Mar 1, 2034	$13K
1,020	$61.43	Apr 1, 2034	$14K
1,130	$55.18	May 1, 2034	$23K
980	$63.38	Jun 3, 2034	$12K
930	$67.36	Jul 1, 2034	$7K
1,000	$62.48	Aug 1, 2034	$13K
930	$67.53	Sep 3, 2034	$7K
880	$70.61	Oct 1, 2034	$4K
830	$75.61	Nov 1, 2034	$0
690	$89.77	Dec 2, 2034	$0
710	$88.67	Jan 2, 2035	$0
640	$97.89	Feb 3, 2035	$0
640	$97.37	Mar 3, 2035	$0
670	$92.84	Apr 1, 2035	$0
550	$113.35	May 1, 2035	$0
510	$121.90	Jun 2, 2035	$0
490	$129.36	Jul 1, 2035	$0
540	$115.86	Aug 1, 2035	$0
510	$121.41	Sep 2, 2035	$0
540	$117.09	Oct 1, 2035	$0
560	$110.01	Nov 3, 2035	$0
581	$109.13	Dec 1, 2035	$0
687	$90.99	Jan 2, 2036	$0
756	$82.76	Feb 2, 2036	$0
643	$97.09	Mar 2, 2036	$0
654	$95.55	Apr 1, 2036	$0
679	$92.06	May 1, 2036	$0
729	$85.85	Jun 1, 2036	$0
842	$74.19	Jul 1, 2036	$909
852	$73.33	Aug 3, 2036	$2K
774	$80.81	Sep 1, 2036	$0
921	$67.85	Oct 1, 2036	$7K

Estimate: options held × ($75.27 − strike price), using the most recent insider trade price on Form 4 (Sep 10, 2026), not a market close.

Cletus Willems

Starting holdings restated for a probable stock split.

Chief Global Affairs Officer

−5.5K

6.3K

not meaningful

Vesting, gifts, unvested awards and holding lines for Cletus Willems

+23Kshares vested or exercised

0gifted (net of own trusts)

−11Kwithheld by the company for taxes

45K → 40Kunvested awards, start → end

Starting holdings restated for a probable stock split.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Direct	Common Stock	0	6,277

18 of 18 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (17 exactly, 1 with a minor or footnoted difference). Percentages cover 4 of 18 officers and directors. Left out: Jay Hoag (most holdings were last confirmed in 2023); David Hyman, Theodore Sarandos, Gregory Peters, Brad Smith and Spencer Neumann (most of their shares vested during the period, so a percentage would mislead); Richard Barton (most holdings were last confirmed in 2021); Timothy Haley, Ann Mather, Anne Sweeney, Susan Rice, Strive Masiyiwa, Jeffrey Karbowski and Cletus Willems (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$402M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $402M across 4,218,617 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $384M · 95%

The lighter segment is sales with no plan disclosed in the filing ($18.5M), including tax-related sales outside a plan.

No plan disclosed · $18.5M

Sales with no 10b5-1 plan and no tax reference in the filing. $8.9M of it is Gregory Peters. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Gregory Peters, May 7, 2026

Taxes

526,257 shares ($47.0M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Reed Hastings Director	3.22M	$309M	100%	77%	Oct 31, 2025 to Jun 1, 2026
David Hyman Chief Legal Officer	355K	$38.1M	96%	9%	Nov 4, 2025 to Aug 4, 2026
Gregory Peters Co-CEO, Director	208K	$17.7M	50%	4%	Nov 4, 2025 to Aug 6, 2026
Spencer Neumann Chief Financial Officer	175K	$16.9M	82%	4%	Nov 3, 2025 to Aug 10, 2026
Theodore Sarandos Co-CEO, Director	181K	$14.3M	68%	4%	Nov 4, 2025 to Aug 4, 2026
Brad Smith Director	68K	$5.6M	100%	1%	Jan 15, 2026 to Jun 17, 2026
Cletus Willems Chief Global Affairs Officer	5.5K	$521K	0%	0.1%	Nov 6, 2025 to Feb 10, 2026
Richard Barton Director	4.3K	$327K	100%	0.1%	Aug 5, 2026 to Sep 10, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$45.3M	$45.3M	$0	$0
Nov 2025	$42.9M	$37.5M	$0	$5.5M
Dec 2025	$40.7M	$40.7M	$0	$0
Jan 2026	$52.7M	$52.7M	$0	$0
Feb 2026	$41.9M	$38.2M	$0	$3.7M
Mar 2026	$42.6M	$42.6M	$0	$0
Apr 2026	$43.0M	$43.0M	$0	$0
May 2026	$44.1M	$38.0M	$0	$6.2M
Jun 2026	$36.0M	$36.0M	$0	$0
Jul 2026	$0	$0	$0	$0
Aug 2026	$13.0M	$9.9M	$0	$3.1M
Sep 2026	$165K	$165K	$0	$0
Oct 2026	$0	$0	$0	$0

Board members representing outside shareholders (1)Listed and sourced; not part of the management totals or the answer line

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Board member

Held Oct 8, 2025

Sold

Held Oct 8, 2026

Still held

Jay Hoag

Starting holdings restated for a probable stock split. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

1.35M

no sales

Vesting, gifts, unvested awards and holding lines for Jay Hoag

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Starting holdings restated for a probable stock split.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 8, 2025	Oct 8, 2026
Hamilton Investments Limited Partnership	Common Stock	630,400	630,400
TCV VIII, L.P	Common Stock	512,350	512,350
TCV VIII (A) Mariner, Ltd	Common Stock	138,160	138,160
TCV Member Fund, L.P	Common Stock	37,670	37,670
TCV VIII (B), L.P	Common Stock	31,820	31,820

Additional holdings last reported Jul 22, 2015, not confirmed since: 23,640 shares. Not included in any total or percentage on this page.

Hamilton Investments II, Limited Partnership, Common Stock: 23,640 shares, last reported Jul 22, 2015

Is this normal? Selling year by year5 earlier years to compare with

In line with the past 5 years. 8 insiders sold; the average is 8 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 8, 2026 Latest 12 months	4.22M	8	$402M
Oct 8, 2025 1 year earlier	10.44M	16	$1.07B
Oct 8, 2024 2 years earlier	7.66M	10	$444M
Oct 9, 2023 3 years earlier	2.57M	5	$107M
Oct 9, 2022 4 years earlier	308K	2	$20.7M
Oct 9, 2021 5 years earlier	10.05M	8	$531M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

Spencer Neumann: minor difference of 100 shares. Difference is under 0.5% of holdings.

Inferred rename: "Foundation Capital Equity Partner II, L.P" is treated as the same holder as "Foundation Capital Equity Partners II, L.P", because the old name was never reported again and the new one opened with the same balance (70,700 shares). Old name, new name

Inferred rename: "Michael N. and Mary G. Schuh 1990 Family Trust" is treated as the same holder as "Schuh 1990 Family Trust", because the old name was never reported again and the new one opened with the same balance (3,506,720 shares). Old name, new name

Inferred rename: "Foundation Capital, L.P" is treated as the same holder as "Foundation Capital, LP", because the old name was never reported again and the new one opened with the same balance (170,240 shares). Old name, new name

Inferred rename: "Foundation Capital Equity Partners II, L.P" is treated as the same holder as "Foundation Capital Equity Partners II, LP", because the old name was never reported again and the new one opened with the same balance (70,700 shares). Old name, new name

Inferred rename: "Foundation Capital Leadership Fund, L.P" is treated as the same holder as "Foundation Capital Leadership Fund, LP", because the old name was never reported again and the new one opened with the same balance (28,295,470 shares). Old name, new name

Inferred rename: "TCV VIII (A), L.P" is treated as the same holder as "TCV VIII (A) Mariner, Ltd", because the old name was never reported again and the new one opened with the same balance (138,160 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology5,311 filings from SEC EDGAR, and how we read them

All 5,311 Forms 3, 4 and 5 filed for Netflix Inc (SEC CIK 1065280) from Mar 4, 2003 to Oct 2, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages. 16 older filings exist only on paper and could not be read.

Probable 2-for-1 stock split on or before Jan 28, 2004 (first filing that shows post-split balances). Splits aren't reported as transactions; 16 holding lines changed by exactly this ratio, so earlier share counts are restated.

Probable 7-for-1 stock split on or before Jul 15, 2015 (split date stated in a footnote). Splits aren't reported as transactions; 14 holding lines changed by exactly this ratio, so earlier share counts are restated.

Probable 10-for-1 stock split on or before Dec 1, 2025 (first filing that shows post-split balances). Splits aren't reported as transactions; 6 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (24)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Rachel Whetstone	Jan 4, 2023	1,530 shares, last reported balance as of Nov 1, 2021
Meabe Ezama	Jan 4, 2023	4,590 shares, last reported balance as of Nov 1, 2021
Dicus Lee	Jan 4, 2023	No balance on record
Rodolphe Belmer	Oct 4, 2022	920 shares, last reported balance as of Nov 1, 2021
Kenneth Barker	Oct 4, 2022	No balance on record
John Saint	Mar 2, 2022	1,300 shares, last reported balance as of Nov 1, 2021
Jessica Neal	May 5, 2021	No balance on record
Kelly Bennett	Mar 4, 2019	No balance on record
David Wells	Jan 3, 2019	No balance on record
George Battle	Dec 4, 2018	460,500 shares, last reported balance as of Nov 1, 2018
Jonathan Friedland	Jun 4, 2018	No balance on record
Neil Hunt	Jun 2, 2017	4,599,520 shares, last reported balance as of Jun 1, 2017
Tawni Cranz	Apr 4, 2017	No balance on record
William Holmes	Jul 3, 2013	No balance on record
PATRICIA McCORD	Oct 2, 2012	299,810 shares, last reported balance as of Jul 11, 2011
Jessica Becker	Jul 3, 2012	4,620 shares, last reported balance as of Jan 17, 2012
Charles Giancarlo	Jun 4, 2012	174,930 shares, last reported balance as of Sep 1, 2011
Andrew Rendich	Jul 5, 2011	No balance on record
BARRY McCARTHY	Dec 2, 2010	3,609,410 shares, last reported balance as of Nov 30, 2010
Gregory Stanger	Jul 2, 2010	No balance on record
Michael Schuh	May 4, 2010	3,200,820 shares, last reported balance as of Apr 27, 2010
Thomas Dillon	Apr 4, 2006	1,934,870 shares, last reported balance as of Mar 29, 2006
Robert Pisano	Oct 4, 2005	420,000 shares, last reported balance as of Jan 23, 2004
Michael Ramsay	Oct 20, 2003	No balance on record

Netflix Inc insiders sold $402M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Outside holders, reported separately

Common questions

Is the Netflix Inc CEO selling stock?

Why are Netflix Inc insiders selling?

Are any Netflix Inc insiders buying?

How much of their stake did Netflix Inc insiders sell?

The evidence

No plan disclosed · $18.5M

Taxes

Sales by month