Willems Cletus R 4

What Happened Cletus R. Willems, Chief Global Affairs Officer of Netflix, was awarded 18,450 restricted stock units (RSUs) on January 22, 2026. The Form 4 records the transaction as an award (code A) with an acquisition price of $0.00 and total reported value of $0, because RSUs are contingent rights to receive shares rather than an open-market purchase.

Key Details

• Transaction date: 2026-01-22; Form filed: 2026-01-23 (timely filing).
• Transaction type/code: Award (A) — 18,450 RSUs granted at $0.00.
• Per footnote: Each RSU represents a contingent right to one share of Netflix common stock.
• Vesting: 1/12th of the RSUs vest quarterly beginning February 3, 2026 (or the first trading day thereafter).
• Shares owned after transaction: not specified in the provided filing details.

Context This is a compensation grant (derivative award) rather than a buy or sell; such RSU grants are common as retention/compensation and do not involve immediate cash changing hands or open-market activity. When RSUs vest, they convert into actual shares (subject to the award terms), at which point they may be reported differently if sold or transferred.