Form 4: Netflix Chief Legal Officer David Hyman Reports Stock Transactions
SEC Form 4
David Hyman, Chief Legal Officer of Netflix, reports multiple transactions involving Netflix common stock, including the exercise of stock options and the sale of shares to cover tax obligations.
Summary
- David Hyman, the Chief Legal Officer of Netflix, filed a Form 4 detailing changes in his beneficial ownership of Netflix stock.
- On August 5, 2024, Hyman acquired 544 shares of common stock through the vesting of restricted stock units (RSUs).
- Also on August 5, 2024, 276 shares were disposed of to satisfy tax withholding obligations related to the vesting of RSUs at a price of $598.55.
- On August 6, 2024, Hyman sold 268 shares of common stock at a price of $615.275.
- On August 6, 2024, Hyman exercised non-qualified stock options to acquire a total of 20,388 shares at prices ranging from $127.49 to $198.
- On August 6, 2024, Hyman sold 20,388 shares of common stock at a price of $605.
- These transactions were made pursuant to a Rule 10b5-1 trading plan adopted on May 7, 2024.
- Following these transactions, Hyman directly owns 31,610 shares of Netflix common stock.
Sentiment
Score: 5
Explanation: This is a routine filing of stock transactions by a company officer. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider trading activity.
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 for signals about management's confidence in the company's prospects.
Stakeholder Impact
- Shareholders may be interested in the trading activity of company insiders as an indicator of management's view of the company's value.
- The transactions have a minor impact on the overall shareholding structure of the company.
Key Dates
| Date | Description |
|---|---|
| 01/03/2017 | Date of Non-Qualified Stock Option grant |
| 02/01/2017 | Date of Non-Qualified Stock Option grant |
| 03/01/2017 | Date of Non-Qualified Stock Option grant |
| 04/03/2017 | Date of Non-Qualified Stock Option grant |
| 05/01/2017 | Date of Non-Qualified Stock Option grant |
| 06/01/2017 | Date of Non-Qualified Stock Option grant |
| 07/03/2017 | Date of Non-Qualified Stock Option grant |
| 08/01/2017 | Date of Non-Qualified Stock Option grant |
| 09/01/2017 | Date of Non-Qualified Stock Option grant |
| 10/02/2017 | Date of Non-Qualified Stock Option grant |
| 11/01/2017 | Date of Non-Qualified Stock Option grant |
| 12/01/2017 | Date of Non-Qualified Stock Option grant |
| 01/25/2024 | Reporting Person was granted 6,524 RSUs |
| 02/03/2024 | 1/12th of the RSUs vest on a quarterly basis beginning on this date |
| 05/07/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 08/05/2024 | Transaction Date: Acquisition of 544 shares via RSU vesting and disposition of 276 shares for tax obligations |
| 08/06/2024 | Transaction Date: Sale of 268 shares and exercise of stock options for 20,388 shares |
| 08/07/2024 | Date of Form 4 Filing |
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