Form 4: Netflix CLO Hyman Reports RSU Vesting, Tax Withholding

Netflix Chief Legal Officer David A. Hyman reported the vesting of Restricted Stock Units and subsequent share withholdings for tax purposes on February 3, 2026.

Summary

• David A. Hyman, Chief Legal Officer of Netflix Inc. (NFLX), reported transactions on February 3, 2026, related to his beneficial ownership.
• These transactions involved the acquisition of common stock due to the vesting of Restricted Stock Units (RSUs) and the disposition of shares to satisfy tax withholding obligations.
• A total of 11,409 shares were acquired through RSU vesting (5,440 shares from a January 25, 2024 grant; 3,030 shares from a January 23, 2025 grant; and 2,939 shares from a January 22, 2026 grant).
• A total of 5,682 shares were disposed of to cover tax withholding obligations at a price of $82.76 per share.
• Following these reported transactions, Mr. Hyman's direct beneficial ownership of Netflix common stock stands at 321,827 shares.
• The filing notes that all reported figures are adjusted to reflect a ten-for-one forward stock split of Netflix's common stock, which was effective after market close on November 14, 2025.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting routine executive compensation and tax management, with no significant positive or negative implications for the company's operational or financial performance.

Positives

• Chief Legal Officer David A. Hyman received 11,409 shares of Netflix common stock through the vesting of Restricted Stock Units (RSUs), indicating continued compensation and alignment with shareholder interests.

Negatives

• 5,682 shares were disposed of to cover tax withholding obligations at a price of $82.76 per share, which is a standard practice for RSU vesting and not indicative of negative sentiment.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transaction filings like Form 4 provide transparency into executive compensation and ownership changes, which can be a factor in investor sentiment, though this specific filing reflects routine RSU vesting and tax management rather than strategic shifts or operational performance.

Stakeholder Impact

• Shareholders: Gain transparency into the Chief Legal Officer's compensation structure and current equity holdings, which are aligned with company performance.
• Employees: The filing demonstrates the company's executive compensation strategy, which includes equity awards like RSUs, a common component of compensation packages.

Next Steps

• Ongoing quarterly vesting of remaining Restricted Stock Units (RSUs) from grants made on January 25, 2024, January 23, 2025, and January 22, 2026, will continue according to their respective schedules.

Key Dates

Recommendation

This Form 4 filing details routine RSU vesting and tax-related share dispositions by a key executive. Such transactions are standard compensation events and do not typically indicate a change in the company's fundamental outlook or warrant a shift in investment strategy. Therefore, a 'hold' recommendation is appropriate as this filing provides no new information to alter an existing investment thesis.

Keywords

Netflix, NFLX, Form 4, Insider Transaction, RSU Vesting, David Hyman, Chief Legal Officer, Stock Split