Form 4: Netflix Director Strive Masiyiwa Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Director Strive Masiyiwa exercised stock options and sold Netflix shares on February 6, 2025, according to a pre-arranged 10b5-1 trading plan.
Summary
- On February 6, 2025, Strive Masiyiwa, a director of Netflix, executed multiple non-qualified stock options to acquire common stock.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2024.
- Masiyiwa exercised options at prices ranging from $179.95 to $324.12, acquiring a total of 2,813 shares.
- Simultaneously, Masiyiwa sold 2,813 shares of Netflix common stock at a price of $1,007.87 per share.
- Following these transactions, Masiyiwa holds zero shares directly.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports transactions executed under a pre-existing plan. There's no indication of positive or negative sentiment towards the company's prospects.
Positives
- The transactions were conducted under a pre-arranged 10b5-1 trading plan, indicating that the sales were planned well in advance and not based on any inside information.
Industry Context
Directors and officers of publicly traded companies often use 10b5-1 trading plans to sell shares over time to avoid accusations of insider trading. This is a common practice.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies like Netflix, including peers such as Disney (DIS), Amazon (AMZN), and Apple (AAPL).
- These plans allow insiders to sell shares at predetermined times and prices, mitigating concerns about trading on non-public information.
- The reported transactions are similar to those seen regularly in Form 4 filings for other major tech companies.
Stakeholder Impact
- The sale of shares by a director could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
- The transactions have a minimal impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 2022-05-02 | Earliest exercisable date for some of the non-qualified stock options. |
| 2022-06-01 | Exercisable date for some of the non-qualified stock options. |
| 2022-07-01 | Exercisable date for some of the non-qualified stock options. |
| 2022-08-01 | Exercisable date for some of the non-qualified stock options. |
| 2022-09-01 | Exercisable date for some of the non-qualified stock options. |
| 2022-10-03 | Exercisable date for some of the non-qualified stock options. |
| 2022-11-01 | Exercisable date for some of the non-qualified stock options. |
| 2022-12-01 | Exercisable date for some of the non-qualified stock options. |
| 2023-01-03 | Exercisable date for some of the non-qualified stock options. |
| 2023-03-01 | Exercisable date for some of the non-qualified stock options. |
| 2023-05-01 | Exercisable date for some of the non-qualified stock options. |
| 2024-11-07 | Date the reporting person adopted the Rule 10b5-1 trading plan. |
| 2025-02-06 | Date of the reported transactions (option exercise and share sale). |
| 2025-02-07 | Date of the signature on the Form 4 filing. |
| 2032-05-02 | Expiration date for some of the non-qualified stock options. |
| 2032-06-01 | Expiration date for some of the non-qualified stock options. |
| 2032-07-01 | Expiration date for some of the non-qualified stock options. |
| 2032-08-01 | Expiration date for some of the non-qualified stock options. |
| 2032-09-01 | Expiration date for some of the non-qualified stock options. |
| 2032-10-03 | Expiration date for some of the non-qualified stock options. |
| 2032-11-01 | Expiration date for some of the non-qualified stock options. |
| 2032-12-01 | Expiration date for some of the non-qualified stock options. |
| 2033-01-03 | Expiration date for some of the non-qualified stock options. |
| 2033-03-01 | Expiration date for some of the non-qualified stock options. |
| 2033-05-01 | Expiration date for some of the non-qualified stock options. |
Keywords
Netflix, Strive Masiyiwa, stock options, Form 4, 10b5-1 plan, director, share sale, NFLX
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