Form 4: Netflix Director Jay C. Hoag Sells Shares Under 10b5-1 Trading Plan

Jay C. Hoag, a director at Netflix, executed multiple sales of Netflix common stock on September 12, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On September 12, 2024, Jay C. Hoag, a director of Netflix, sold shares of Netflix common stock.
• The sales were executed under a pre-arranged trading plan that complies with Rule 10b5-1(c).
• The transactions involved multiple sales at varying prices, ranging from $682.69 to $694.18 per share.
• The sales were conducted through The Hoag Family Trust U/A DTD 08/02/1994 and Hamilton Investments Limited Partnership, for which Jay C. Hoag serves as trustee and general partner, respectively.
• Following these transactions, The Hoag Family Trust U/A DTD 08/02/1994 beneficially owns between 283,986 and 308,248 shares.
• Hamilton Investments Limited Partnership beneficially owns between 95,040 and 113,237 shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual information about stock sales. The use of a 10b5-1 plan suggests pre-planned sales, which is neutral.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Industry Context

Insider sales are a common occurrence in publicly traded companies. The use of a 10b5-1 trading plan suggests that these sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The stock sales by a director could potentially create short-term negative sentiment among shareholders, although the existence of a 10b5-1 trading plan mitigates this concern.

Key Dates