Netflix (NFLX) Director Richard Barton Exercises Options, Sells 720 Shares

What Happened
Richard N. Barton, a director of Netflix (NFLX), exercised options to acquire 720 shares at $20.11 each (cost $14,477) and immediately sold those 720 shares in the open market at $77.60 each for $55,872 on September 8, 2026. The transactions were carried out under a pre-established Rule 10b5‑1 trading plan. Net proceeds from the roundtrip (sale proceeds minus exercise cost) were approximately $41,395.

Key Details

• Transaction date: 2026-09-08 (Filed: 2026-09-09) — timely Form 4 filing.
• Exercise: 720 shares @ $20.11 (acquired) — $14,477 total.
• Sale: 720 shares @ $77.60 (disposed) — $55,872 total.
• Derivative reporting: shows the option exercise (M) and a derivative disposition entry at $0 consistent with exercise.
• Shares owned after the transaction: not disclosed in this filing.
• Footnotes:
  • F1: Trades made pursuant to a Rule 10b5‑1 plan adopted 5/4/2026.
  • F2: Corrects a prior administrative error related to a 10‑for‑1 forward stock split (no transactions omitted).
  • F3: Mr. Barton is sole managing member of Barton Ventures II, LLC and may be deemed to beneficially own shares held by that entity, with customary disclaimer.

Context
This was an exercise of derivative awards followed by an immediate sale (a common cashless exercise pattern) rather than an open‑market purchase. The use of a 10b5‑1 plan indicates the trades were executed under a prearranged program. The filing corrects a prior administrative reporting total (split adjustment) but does not add any previously unreported transactions.