Form 4: Netflix Director Leslie Kilgore Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Leslie Kilgore, a Netflix director, executed stock options and sold shares of common stock on September 24 and 25, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Leslie Kilgore, a director at Netflix, engaged in transactions involving Netflix common stock on September 24 and 25, 2024.
- These transactions involved the exercise of non-qualified stock options and the subsequent sale of the acquired shares.
- The transactions were executed under a Rule 10b5-1 trading plan adopted on January 29, 2024.
- On September 24, 2024, 426 shares were acquired through option exercise at a price of $146.92 and then sold at $720.
- On September 25, 2024, 402 shares were acquired through option exercise at a price of $155.35 and then sold at $725.
- Following these transactions, Kilgore directly owns 35,262 shares of Netflix common stock.
- The filing also notes a correction to the total amount of securities beneficially owned, addressing an administrative error in previous filings from August 21, 2024, and September 20, 2024.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of stock transactions by a company director under a pre-arranged trading plan. It doesn't indicate any particular positive or negative sentiment.
Industry Context
Directors often use 10b5-1 plans to diversify their holdings and avoid accusations of insider trading. These plans are established in advance and allow for scheduled transactions regardless of any inside information the director may possess.
Comparison to Industry Standards
- Many public company directors use 10b5-1 trading plans to manage their stock holdings.
- The use of such plans is a common practice to ensure compliance with insider trading regulations.
- Comparable companies like Amazon, Apple, and Disney also see similar filings from their directors.
Key Dates
| Date | Description |
|---|---|
| 2017-04-03 | Date Non-Qualified Stock Option (right to buy) was exercisable |
| 2017-05-01 | Date Non-Qualified Stock Option (right to buy) was exercisable |
| 2024-01-29 | Date the reporting person adopted a Rule 10b5-1 trading plan |
| 2024-08-21 | Date of previous filing with an administrative error |
| 2024-09-20 | Date of previous filing with an administrative error |
| 2024-09-24 | Date of stock option exercise and sale |
| 2024-09-25 | Date of stock option exercise and sale |
| 2024-09-26 | Date of Form 4 filing |
| 2027-04-03 | Expiration date of Non-Qualified Stock Option (right to buy) |
| 2027-05-01 | Expiration date of Non-Qualified Stock Option (right to buy) |
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.