Neumann Spencer Adam 4

What Happened

• Spencer Neumann, Chief Financial Officer of Netflix (NFLX), had 18,418 restricted stock units (RSUs vest) and convert into the same number of shares on Feb 3, 2026. Of those shares, 9,170 were withheld to satisfy tax withholding obligations, generating proceeds totaling approximately $758,910 (withholding priced at $82.76 per share). The underlying transactions are reported as derivative conversions (code M) and tax withholding (code F).

Key Details

• Transaction date: 2026-02-03; Form 4 filed 2026-02-04 (timely).
• Gross shares converted/received: 18,418 (8,780 + 4,890 + 4,748).
• Shares withheld for taxes: 9,170 (4,371 + 2,435 + 2,364) at $82.76 = $758,910 total reported proceeds.
• Transaction types/codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax liability.
• Footnotes: RSUs settle one-for-one into common stock (F1, F3); withholding reflects tax satisfaction (F2). Vesting tied to prior grants (F4–F6) and quantities adjusted for a 10-for-1 forward split effective 11/14/2025.
• Shares owned after the transaction: not specified in the provided summary—see the full Form 4 for total post-transaction holdings.

Context

• This was not an open-market sale or purchase but the routine vesting/settlement of RSU awards and net share withholding to cover taxes (a common practice, effectively a cashless/net settlement). Such transactions generally reflect routine compensation vesting rather than a direct buy/sell decision by the insider.