Netflix (NFLX) CFO Spencer Neumann Exercises RSUs; Shares Withheld

What Happened Spencer Neumann, CFO of Netflix, reported RSU settlements on Aug 3, 2026. A total of 18,418 RSUs converted into common shares (three separate conversions of 8,780; 4,890; and 4,748 shares). To satisfy tax withholding obligations, 9,170 shares were withheld at $71.71 per share, producing withholding value of $657,580 (reported as dispositions of 4,371; 2,435; and 2,364 shares with corresponding amounts of $313,444; $174,614; and $169,522). The remaining ~9,248 shares were issued to Neumann. This was an administrative tax-withholding transaction tied to RSU vesting, not an open-market sale or purchase.

Key Details

• Transaction date: Aug 3, 2026; Form filed Aug 4, 2026. No late filing was indicated in the report provided.
• Actions reported: Exercise/conversion of derivatives (code M) — RSUs settled into shares; tax withholding dispositions (code F). Some exercise entries show $0.00 because RSUs do not require an exercise cash payment.
• Withheld shares: 9,170 shares withheld at $71.71/share = $657,580 total withheld (sum of reported amounts $313,444 + $174,614 + $169,522).
• Shares converted: 18,418 total from three vest events (8,780; 4,890; 4,748). Net shares issued to insider: ~9,248.
• Shares owned after transaction: Not specified in the provided filing.
• Relevant footnotes: RSUs settle one-for-one into common stock (F1, F3); withheld shares satisfy tax obligations (F2). Grants referenced include awards from Jan 2024 (105,380 RSUs), Jan 2025 (58,700 RSUs), and Jan 2026 (56,977 RSUs) with quarterly vesting schedules (F4–F6).

Context These transactions reflect routine RSU vesting and cashless settlement to cover taxes rather than a discretionary open-market sale. For retail investors, such withholding is common and typically administrative; it does not necessarily signal insider buying or selling intent.