Form 4: Netflix Chief Legal Officer David Hyman Reports Stock Transactions
SEC Form 4 Filing
David Hyman, Netflix's Chief Legal Officer, reported the vesting of restricted stock units (RSUs), subsequent sale of shares to cover tax obligations, and a sale of shares on February 3rd and 4th, 2025.
Summary
- David Hyman, the Chief Legal Officer of Netflix, filed a Form 4 detailing changes in his beneficial ownership of Netflix stock.
- On February 3, 2025, Hyman vested 544 and 302 shares from restricted stock units (RSUs).
- He also disposed of 271 and 151 shares to cover tax obligations related to the vesting of these RSUs, at a price of $976.76 per share.
- On February 4, 2025, Hyman sold 424 shares of common stock at a weighted average price of $994.6307.
- Following these transactions, Hyman directly owns 31,610 shares of Netflix common stock and 3,806 and 3,332 restricted stock units.
- The RSUs vest quarterly, with the vesting schedule determined by the grant dates of January 25, 2024, and January 23, 2025.
Sentiment
Score: 5
Explanation: This is a neutral informational document detailing routine stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Future Outlook
The reporting person will continue to vest RSUs quarterly according to the existing vesting schedules.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice across publicly traded companies, including Netflix competitors like Disney (DIS), Amazon (AMZN), and Apple (AAPL).
- Similar to Netflix, executives at these companies regularly file Form 4s to report stock transactions.
- The vesting schedules and tax withholding practices observed in this filing are typical for RSU grants in the tech industry.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
- The impact on employees is negligible, as it relates to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 01/25/2024 | Reporting Person was granted 6,524 RSUs, vesting quarterly beginning on February 3, 2024. |
| 01/23/2025 | Reporting Person was granted 3,634 RSUs, vesting quarterly beginning on February 3, 2025. |
| 02/03/2025 | Date of earliest transaction; vesting of RSUs and sale of shares to cover tax obligations. |
| 02/04/2025 | Sale of 424 shares of common stock. |
| 02/05/2025 | Date of Form 4 signature. |
Keywords
Form 4, David Hyman, Chief Legal Officer, Netflix, NFLX, Stock, RSU, Restricted Stock Units, Beneficial Ownership, Insider Trading
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.