HASTINGS REED 4
4 · NETFLIX INC · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Netflix Director Reed Hastings Sells 391K Shares After Option Exercise
What Happened
Reed Hastings, a director of Netflix (NFLX), exercised 390,970 stock options on Feb 2, 2026 at $10.15 per share (cost ≈ $3.97M) and sold those shares the same day in open-market transactions for a total of about $32.7M. The sale was completed in three blocks: 247,756 shares at a weighted avg $83.22 ($20.62M), 104,594 shares at $84.09 ($8.80M), and 38,620 shares at $84.96 ($3.28M). Hastings also acquired 756 shares as a separate grant/award.
Key Details
- Transaction date: 2026-02-02 (Form filed 2026-02-03 — timely).
- Option exercise: 390,970 shares exercised at $10.15 each (total cash outlay ≈ $3,968,736).
- Open-market sales: 390,970 shares sold in three blocks for a combined ≈ $32,695,591.
- Small award: 756 shares received (reported as acquisition, $0.00).
- Footnotes: trades executed under a Rule 10b5-1 trading plan adopted 8/8/2023 (F1); sales executed in multiple trades with price ranges noted in F2–F4; Hastings reported as Trustee of the Hastings-Quillin Family Trust (F5).
- Shares owned after the transactions: not specified in the provided filing excerpt.
Context
This was a cashless-style transaction: options were exercised and the resulting shares were sold the same day, a common way insiders monetize option gains. The presence of a pre-established 10b5-1 plan indicates the sales were made under a pre-set trading arrangement rather than ad-hoc market timing. Sales do not necessarily signal a change in sentiment; they often reflect routine tax or diversification actions.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-02$10.15/sh+390,970$3,968,736→ 394,910 total - Sale
Common Stock
[F1][F2]2026-02-02$83.22/sh−247,756$20,618,824→ 147,154 total - Sale
Common Stock
[F1][F3]2026-02-02$84.09/sh−104,594$8,795,801→ 42,560 total - Sale
Common Stock
[F1][F4]2026-02-02$84.96/sh−38,620$3,280,966→ 3,940 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F1]2026-02-02−390,970→ 0 totalExercise: $10.15From: 2016-06-01Exp: 2026-06-01→ Common Stock (390,970 underlying) - Award
Non-Qualified Stock Option (right to buy)
2026-02-02+756→ 756 totalExercise: $82.76From: 2026-02-02Exp: 2036-02-02→ Common Stock (756 underlying)
- 21,401,520(indirect: By Trust)
Common Stock
[F5]
Footnotes (5)
- [F1]Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 8/8/2023.
- [F2]This transaction was executed in multiple trades at prices ranging from $82.73 to $83.7249. 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.
- [F3]This transaction was executed in multiple trades at prices ranging from $83.7257 to $84.7237. 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.
- [F4]This transaction was executed in multiple trades at prices ranging from $84.7265 to $85.2555. 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.
- [F5]As Trustee of the Hastings-Quillin Family Trust.