=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-08-03
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: NETFLIX INC (NFLX)
CIK: 0001065280
--- Reporting Owner ---
Name: SARANDOS THEODORE A
CIK: 0001393838
Role: Director, Officer (Co-CEO)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +25,930
Shares Owned After: 310,734 | Ownership: D (Direct)
Footnotes:
[F1] Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
[Transaction #2]
Security: Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +14,440
Shares Owned After: 325,174 | Ownership: D (Direct)
Footnotes:
[F1] Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
[Transaction #3]
Security: Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +14,018
Shares Owned After: 339,192 | Ownership: D (Direct)
Footnotes:
[F1] Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
[Transaction #4]
Security: Common Stock
Date: 2026-08-03 | Code: F (Payment of exercise/tax)
Shares: -12,908 | Price: $71.71
Total Value: $925,632.68
Shares Owned After: 326,284 | Ownership: D (Direct)
Footnotes:
[F2] Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
[Transaction #5]
Security: Common Stock
Date: 2026-08-03 | Code: F (Payment of exercise/tax)
Shares: -7,189 | Price: $71.71
Total Value: $515,523.19
Shares Owned After: 319,095 | Ownership: D (Direct)
Footnotes:
[F2] Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
[Transaction #6]
Security: Common Stock
Date: 2026-08-03 | Code: F (Payment of exercise/tax)
Shares: -6,979 | Price: $71.71
Total Value: $500,464.09
Shares Owned After: 312,116 | Ownership: D (Direct)
Footnotes:
[F2] Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
[Transaction #7]
Security: Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -81,891 | Price: $72.90
Total Value: $5,969,731.06
Shares Owned After: 230,225 | Ownership: D (Direct)
Footnotes:
[F3] Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 5/4/2026.
[F4] This transaction was executed in multiple trades at prices ranging from $72.2201 to $73.2196. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
[Transaction #8]
Security: Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -23,959 | Price: $73.48
Total Value: $1,760,430.65
Shares Owned After: 206,266 | Ownership: D (Direct)
Footnotes:
[F3] Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 5/4/2026.
[F5] This transaction was executed in multiple trades at prices ranging from $73.2201 to $73.8187. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
[Transaction #9]
Security: Common Stock
Date: 2026-08-04 | Code: S (Open market sale)
Shares: -27,312 | Price: $73.35
Total Value: $2,003,422.60
Shares Owned After: 178,954 | Ownership: D (Direct)
Footnotes:
[F6] This transaction was executed in multiple trades at prices ranging from $73.34 to $73.445. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
--- Derivative Transactions ---
[Transaction #1]
Security: Restricted Stock Units
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -25,930 | Price: $0.00
Shares Owned After: 25,930 | Ownership: D (Direct)
Footnotes:
[F7] Each RSU represents a contingent right to receive one share of Netflix common stock.
[F8] On January 25, 2024, the Reporting Person was granted 311,120 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024 (or, to the extent it is not a trading day, the first trading day thereafter).
[F8] On January 25, 2024, the Reporting Person was granted 311,120 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024 (or, to the extent it is not a trading day, the first trading day thereafter).
[Transaction #2]
Security: Restricted Stock Units
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -14,440 | Price: $0.00
Shares Owned After: 72,210 | Ownership: D (Direct)
Footnotes:
[F7] Each RSU represents a contingent right to receive one share of Netflix common stock.
[F9] On January 23, 2025, the Reporting Person was granted 173,300 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2025 (or, to the extent it is not a trading day, the first trading day thereafter).
[F9] On January 23, 2025, the Reporting Person was granted 173,300 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2025 (or, to the extent it is not a trading day, the first trading day thereafter).
[Transaction #3]
Security: Restricted Stock Units
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -14,018 | Price: $0.00
Shares Owned After: 126,162 | Ownership: D (Direct)
Footnotes:
[F7] Each RSU represents a contingent right to receive one share of Netflix common stock.
[F10] On January 22, 2026, the Reporting Person was granted 168,216 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2026 (or, to the extent it is not a trading day, the first trading day thereafter).
[F10] On January 22, 2026, the Reporting Person was granted 168,216 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2026 (or, to the extent it is not a trading day, the first trading day thereafter).
--- Footnotes (Complete Index) ---
F1: Reflects restricted stock units (RSUs) that following vesting, settled in shares of Netflix common stock on a one-for-one basis.
F10: On January 22, 2026, the Reporting Person was granted 168,216 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2026 (or, to the extent it is not a trading day, the first trading day thereafter).
F2: Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs.
F3: Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 5/4/2026.
F4: This transaction was executed in multiple trades at prices ranging from $72.2201 to $73.2196. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F5: This transaction was executed in multiple trades at prices ranging from $73.2201 to $73.8187. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F6: This transaction was executed in multiple trades at prices ranging from $73.34 to $73.445. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F7: Each RSU represents a contingent right to receive one share of Netflix common stock.
F8: On January 25, 2024, the Reporting Person was granted 311,120 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2024 (or, to the extent it is not a trading day, the first trading day thereafter).
F9: On January 23, 2025, the Reporting Person was granted 173,300 RSUs. Subject to the terms and conditions of the underlying award agreement, 1/12th of the RSUs vest on a quarterly basis beginning on February 3, 2025 (or, to the extent it is not a trading day, the first trading day thereafter).
--- Signature ---
/s/ By: Veronique Bourdeau, Authorized Signatory For: Theodore A. Sarandos (2026-08-04)
