Neumann Spencer Adam 4

What Happened

• Spencer Neumann, Chief Financial Officer of Netflix, had RSUs vest that converted into 18,428 shares of Netflix common stock on May 4, 2026. To satisfy tax withholding obligations, 9,175 of those shares were withheld (disposed) at an indicated value of $92.06 per share, totaling $844,650. The remaining 9,253 shares were delivered to him. The transactions reflect RSU settlement (derivative conversion) rather than an open‑market sale.

Key Details

• Transaction date: May 4, 2026; Form 4 filed May 5, 2026 (appears timely).
• Vesting/conversion: 18,428 shares (three separate RSU settlements: 8,780; 4,900; 4,748).
• Shares withheld for taxes: 9,175 shares at $92.06 per share = $844,650 total.
• Net shares received by reporting person: 9,253 shares (18,428 vested minus 9,175 withheld).
• Codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax obligations.
• Footnotes: RSUs settle one-for-one into common stock (F1–F3). Grants and standard quarterly vesting schedules referenced in footnotes F4–F6 (grants in Jan 2024, Jan 2025, Jan 2026).
• Shares owned after the transaction are not specified in the provided filing excerpt.

Context

• These entries reflect routine RSU vesting and tax withholding (a cashless-like settlement), not an open-market sale or purchase. For derivative transactions: the RSUs converted to shares (exercise/conversion), and the company withheld a portion to cover tax withholding obligations. Such withholding transactions are common and do not necessarily indicate a change in insider sentiment.