Form 4: Netflix Chief Legal Officer David Hyman Reports Stock Transactions
SEC Form 4 Filing
David Hyman, Chief Legal Officer of Netflix, reports the vesting and sale of restricted stock units (RSUs) and associated tax withholding.
Summary
- David Hyman, the Chief Legal Officer of Netflix, filed a Form 4 detailing changes in beneficial ownership.
- On May 5, 2025, Hyman vested 544 and 303 shares of common stock from restricted stock units (RSUs).
- He also sold 425 shares of common stock on May 6, 2025, at a weighted average price of $1,143.0993.
- Shares were withheld to cover tax obligations arising from the vesting of RSUs.
- Following these transactions, Hyman directly owns 31,610 shares of Netflix common stock and 3,029 and 3,262 restricted stock units.
- The RSUs vest quarterly, with grants made on January 25, 2024 (6,524 RSUs) and January 23, 2025 (3,634 RSUs).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't contain information that would significantly shift investor sentiment positively or negatively.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies like Netflix. These filings provide transparency into the trading activities of company insiders and are closely monitored by investors.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- Companies like Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) also utilize RSUs as part of their executive compensation plans.
- The vesting schedules and terms of these RSUs can vary across companies, but the general principle remains the same: to incentivize executives to drive long-term growth and profitability.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation activities.
Key Dates
| Date | Description |
|---|---|
| January 25, 2024 | Reporting Person was granted 6,524 RSUs, vesting quarterly beginning on February 3, 2024. |
| January 23, 2025 | Reporting Person was granted 3,634 RSUs, vesting quarterly beginning on February 3, 2025. |
| May 5, 2025 | Vesting of 544 and 303 shares of common stock from RSUs. |
| May 5, 2025 | Withholding of 271 and 151 shares for tax obligations. |
| May 6, 2025 | Sale of 425 shares of common stock at an average price of $1,143.0993. |
| May 7, 2025 | Date of Form 4 signature. |
Keywords
Form 4, Netflix, NFLX, David Hyman, Chief Legal Officer, Stock Transaction, Restricted Stock Units, RSU, Beneficial Ownership
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