Form 4: Netflix Co-CEO Gregory K. Peters Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Gregory K. Peters, Co-CEO of Netflix, exercised stock options and sold shares of common stock on February 10, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On February 10, 2025, Gregory K. Peters, Co-CEO of Netflix, exercised non-qualified stock options to acquire 4,939 shares of Netflix common stock at a price of $286.81 per share.
- Simultaneously, Peters sold 4,939 shares of Netflix common stock at a price of $1,030 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on October 30, 2024.
- Following these transactions, Peters directly owns 12,950 shares of Netflix common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to insider trading activity. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions executed under a pre-existing plan.
Industry Context
This filing is a routine disclosure of insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates that the transactions were pre-planned and not based on any inside information at the time of the trades.
Comparison to Industry Standards
- The use of Rule 10b5-1 trading plans is a common practice among executives at publicly traded companies like Netflix, including peers such as Disney (DIS), Amazon (AMZN), and Apple (AAPL), to manage their stock holdings and avoid accusations of insider trading.
- These plans allow executives to sell shares at predetermined times and prices, regardless of any material non-public information they may possess.
- The specific details of these plans, such as the number of shares sold and the timing of the transactions, can vary widely depending on the individual executive's financial situation and investment strategy.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 11/01/2019 | Date Non-Qualified Stock Option became exercisable |
| 10/30/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 02/10/2025 | Date of stock option exercise and share sale |
| 02/11/2025 | Date of signature on the Form 4 filing |
| 11/01/2029 | Expiration date of Non-Qualified Stock Option |
Keywords
Netflix, NFLX, Gregory K. Peters, Co-CEO, Stock Options, Share Sale, Form 4, Rule 10b5-1, Insider Trading
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