Netflix Co-CEO Ted Sarandos Sells 133,162 Shares (~$9.73M)

What Happened
Ted Sarandos (Co-CEO, Director) had RSUs vest and converted to common stock, and he sold a large portion of the shares. On Aug 3–4, 2026 he sold 133,162 shares in open-market transactions for combined proceeds of about $9.73 million (weighted-average prices: $72.90, $73.48 and $73.35). Separately, 27,076 shares were surrendered/withheld to cover tax liabilities at $71.71 per share (total value reported $1.94M). The underlying conversion/exercise entries total 54,388 shares from vested awards.

Key Details

• Primary dates: Aug 3, 2026 (most activity) and Aug 4, 2026 (one sale tranche). Filing date: Aug 4, 2026 (filed the next day).
• Open-market sales: 81,891 shares @ $72.90 ($5,969,731); 23,959 shares @ $73.48 ($1,760,431); 27,312 shares @ $73.35 ($2,003,423). Reported combined proceeds ≈ $9.73M. (Multiple-trade price ranges noted in footnotes.)
• Tax withholding: 12,908 + 7,189 + 6,979 = 27,076 shares withheld to satisfy taxes at $71.71/share (total value reported $1,941,620).
• Exercises/conversions: 25,930 + 14,440 + 14,018 = 54,388 shares were converted/exercised (reported as derivative conversions).
• Trading plan: Open-market sales were made pursuant to a Rule 10b5-1 trading plan adopted May 4, 2026 (footnote).
• Footnotes: RSUs were the source of the shares (awards granted in 2024–2026; vested/settled one-for-one); F4–F6 note the sales were executed in multiple trades with specific price ranges.
• Shares owned after the reported transactions are not specified in the provided filing excerpt.
• Timeliness: Filing appears timely (transactions Aug 3, filed Aug 4).

Context

• What the derivative/award entries mean: The reporting person had restricted stock units (RSUs) that vested and converted into common shares (conversion/exercise entries). Some of those shares were withheld to pay taxes (F code), and the remainder were sold in the open market (S code). This is a common settlement-and-sell pattern following RSU vesting rather than an independent open-market purchase.
• Interpretation for investors: Sales by executives can be routine (tax withholding or planned-sale under a 10b5-1 plan) and do not by themselves indicate a change in company outlook. Purchases tend to be more directly interpreted as bullish; these are predominantly liquidity/tax-driven events.