Form 4: Netflix Director Timothy Haley Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Netflix director Timothy Haley exercised stock options and sold shares on November 11, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On November 11, 2024, Timothy Haley, a director at Netflix, exercised a non-qualified stock option to acquire 647 shares of common stock at a price of $96.67 per share.
- Concurrently, Mr. Haley sold 647 shares of Netflix common stock at a weighted average price of $800.1929 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 6, 2024.
- Following these transactions, Mr. Haley no longer directly owns any shares of Netflix common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock transaction by a director. It does not indicate any positive or negative sentiment about the company's performance or future prospects.
Industry Context
This is a routine filing related to insider trading activity, which is common for directors and officers of publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among executives and directors of publicly traded companies, including those in the technology sector like Netflix.
- Similar filings are regularly seen from directors and officers at companies like Amazon, Apple, and Google, reflecting the common practice of using stock options as part of executive compensation.
- The reported sale price of $800.1929 per share is within the expected range for Netflix stock at the time of the transaction, based on market data.
Stakeholder Impact
- The stock sale by a director may have a minor impact on shareholder sentiment, but it is unlikely to significantly affect the stock price given the pre-planned nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 07/01/2016 | Date the non-qualified stock option became exercisable. |
| 08/06/2024 | Date the Rule 10b5-1 trading plan was adopted by Timothy Haley. |
| 11/11/2024 | Date of the stock option exercise and stock sale. |
| 07/01/2026 | Expiration date of the non-qualified stock option. |
| 11/12/2024 | Date the Form 4 was signed. |
Keywords
Netflix, insider trading, stock options, Form 4, Rule 10b5-1, Timothy Haley, stock sale, director
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