Netflix Co-CEO Gregory Peters Receives RSUs; Shares Withheld

What Happened

• Gregory K. Peters, Co-CEO and Director of Netflix (NFLX), had restricted stock units (RSUs) convert into 54,388 shares of Netflix common stock on August 3, 2026. To satisfy tax withholding obligations, 27,076 of those shares were withheld (disposed) at a withholding price of $71.71, representing about $1.94 million in tax withholding. The conversion is reported under derivative code M and the withholding under code F.
• Net shares delivered to Peters after withholding were 27,312 shares (54,388 acquired less 27,076 withheld). This was not an open-market sale of shares for cash; it was a standard tax-withholding transaction following RSU vesting.

Key Details

• Transaction date: August 3, 2026; Form 4 filed August 4, 2026 (timely filing).
• Shares converted (acquired): 25,930 + 14,440 + 14,018 = 54,388 shares (reported as conversions of RSUs).
• Shares withheld for taxes (disposed): 12,908 @$71.71 = $925,633; 7,189 @$71.71 = $515,523; 6,979 @$71.71 = $500,464. Total tax withholding ≈ $1,941,620 for 27,076 shares.
• Net shares delivered to insider: 27,312 shares.
• Footnotes: RSUs settled one-for-one into common stock (F1, F3). Shares withheld represent tax withholding on vested RSUs (F2). The RSUs stem from grants on Jan 25, 2024 (311,120 RSUs), Jan 23, 2025 (173,300 RSUs), and Jan 22, 2026 (168,216 RSUs) with quarterly vesting schedules (F4–F6).
• Filing timeliness: Reported the day after the transactions (filed 2026-08-04 for 2026-08-03 activity).

Context

• These transactions are routine vesting and tax-withholding events (not open-market sales or purchases). Code M indicates conversion/exercise of a derivative (here, RSU settlement); code F indicates shares withheld to satisfy tax obligations.
• For retail investors, withholding after RSU vesting is administrative and does not necessarily indicate the insider buying or selling shares for investment reasons.