Form 4: Netflix CFO Spencer Neumann Reports Stock Transactions
SEC Form 4
Netflix CFO Spencer Neumann reported the vesting and sale of Netflix common stock, including shares withheld for tax obligations.
Summary
- On November 4, 2024, Spencer Neumann, the CFO of Netflix, reported transactions involving Netflix common stock.
- 878 restricted stock units (RSUs) vested and settled into shares of Netflix common stock on a one-for-one basis.
- 445 shares were withheld to satisfy tax obligations related to the vesting of the RSUs at a price of $755.51.
- On November 6, 2024, Neumann sold 433 shares of common stock at a price of $772.1022.
- Following these transactions, Neumann directly owns 0 shares of Netflix common stock.
- Neumann also holds 7,026 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the effect is likely negligible given the scale of Netflix's market capitalization.
Key Dates
| Date | Description |
|---|---|
| January 25, 2024 | Reporting Person was granted 10,538 RSUs. |
| February 3, 2024 | 1/12th of the RSUs vest on a quarterly basis beginning on this date (or, to the extent it is not a trading day, the first trading day thereafter). |
| November 4, 2024 | RSUs vested and settled in shares of Netflix common stock; shares withheld for tax obligations. |
| November 6, 2024 | Sale of common stock. |
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