Form 4: Netflix Co-CEO Theodore Sarandos Reports Stock Transactions
SEC Form 4 Filing
Theodore Sarandos, Co-CEO of Netflix, reports the vesting and subsequent sale of restricted stock units (RSUs) to cover tax obligations.
Summary
- Theodore Sarandos, Co-CEO of Netflix, filed a Form 4 detailing changes in his beneficial ownership of Netflix stock.
- On February 3, 2025, Sarandos vested 2,593 RSUs from a grant on January 25, 2024, and 1,444 RSUs from a grant on January 23, 2025, which converted into common stock.
- A total of 1,291 shares and 719 shares were withheld to cover tax obligations at a price of $976.76 per share.
- Following these transactions, Sarandos directly owns 15,168 shares of Netflix common stock and 15,886 and 18,149 Restricted Stock Units.
- The RSUs vest quarterly, with 1/12th of the granted RSUs vesting each quarter.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, and does not contain any information that would significantly impact investor sentiment.
Future Outlook
The RSUs granted to Sarandos will continue to vest quarterly.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
Key Dates
| Date | Description |
|---|---|
| January 25, 2024 | Reporting Person was granted 31,112 RSUs |
| January 23, 2025 | Reporting Person was granted 17,330 RSUs |
| February 3, 2025 | Date of transaction (vesting of RSUs and withholding of shares for taxes) |
| February 5, 2025 | Date of Form 4 filing |
Keywords
Form 4, Sarandos, Netflix, RSU, Stock, Ownership
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.