Form 4: Netflix Co-CEO Theodore Sarandos Reports Stock Transactions
SEC Form 4 Filing
Netflix Co-CEO Theodore Sarandos reports the vesting and sale of Netflix common stock, including shares withheld for tax obligations.
Summary
- Theodore A. Sarandos, Co-CEO of Netflix, filed a Form 4 detailing changes in beneficial ownership of Netflix stock.
- On November 4, 2024, 2,592 restricted stock units (RSUs) vested and settled into shares of Netflix common stock.
- Sarandos disposed of 1,314 shares to cover tax withholding obligations at a price of $755.51 per share.
- On November 5, 2024, Sarandos sold 1,278 shares of common stock at a weighted average price of $767.0456.
- Following these transactions, Sarandos directly owns 2,556 shares of Netflix common stock and 20,742 restricted stock units.
- The RSUs were granted on January 25, 2024, with 1/12th vesting quarterly beginning on February 3, 2024.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions by a company executive, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely watched by investors for insights into management's perspective on the company's value and future prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares involved.
Key Dates
| Date | Description |
|---|---|
| 2024-01-25 | Reporting Person was granted 31,112 RSUs |
| 2024-02-03 | 1/12th of the RSUs vest on a quarterly basis beginning on this date |
| 2024-11-04 | Restricted stock units (RSUs) vested and settled in shares of Netflix common stock |
| 2024-11-04 | Shares withheld to satisfy tax withholding obligations arising out of the vesting of RSUs |
| 2024-11-05 | Common stock sold |
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