Reed Hastings

Reed Hastings sells 386,700 shares for $33,244,035.38 via 10b5-1 plan; retains 3,940 shares plus 728 options

Director Reed Hastings sold 2 separate tranches totaling 386,700 (386.7K shares) for $33,244,035.38 ($33.2M) on 2026-06-01, with a blended average price of $85.97, executed under a pre-arranged 10b5-1 trading plan. This represents a 99.0% reduction in his non-derivative holdings (from 390,640 to 3,940 shares), though his total position remains non-zero due to 728 non-qualified stock options in Table II. The sale occurred as NFLX traded at $85.97–$86.73, approximately 37.9% below its 52-week high of $134.12 and after a 15.5% decline over 90 days. His prior sales at NFLX show a consistent pattern: five trades in recent months (April and May 2026) all posted negative 30-day and 90-day returns (ranging from -3.1% to -8.6% on the 30-day basis), suggesting these executed periods have preceded further price decline. The scheduled nature of this transaction under 10b5-1 removes timing discretion from this individual trade; however, the aggregate pattern of his open-market sales across all tickers averages a -8.0% 90-day return post-sale, consistent with his same-ticker record at NFLX.

Reed Hastings exercises options and sells all shares same-day; 8th Netflix sale in 3 years, follows his 5 prior well-timed exits at this ticker.

Reed Hastings, a Netflix director, exercised options for approximately 407,550 shares and immediately sold all of them across three separate transactions on the same day, offsetting the exercise to net zero change in his position. This is his eighth open-market sale at Netflix in three years and his 508th open-market sale across all holdings—a director with an established pattern of selling rather than buying. All five of his prior sales at Netflix were followed by subsequent stock declines over both the 30-day and 90-day periods, establishing a consistent track record of well-timed exits. The stock currently trades well below its 52-week high, having declined significantly in recent weeks, yet the company remains profitable and growing, which provides context for whether this sale represents concern or routine portfolio management.

Netflix Director Hastings Reed sold 420,550 shares for $40,156,465.06 on 2026-04-01, retaining only 3,940 shares.

Hastings Reed executed 3 separate sales totaling 420,550 shares for $40,156,465.06 at a blended average price of $95.49, reducing his Netflix holdings by 99.1% from 424,490 shares to 3,940 shares. The near-complete liquidation of a director's position at a stock price $3.17 below the current price of $98.66 signals a material shift in exposure. Reed's cross-ticker track record shows a 71.43% well-timed rate on his 20 prior sells across all holdings (with an average 90-day return of -46.8% after those sales), though at Netflix specifically his 5 prior trades remain largely unmeasured at the 90-day horizon. The magnitude and completeness of this position exit warrant investor attention to whether this reflects a broader reassessment of Netflix's valuation or fundamental outlook, particularly given the company's strong fundamentals (P/E 32.78, +15.8% annual revenue growth, $11.5B quarterly revenue, and $2.5B net income).

Director Hastings Reed sold 410,550 shares ($39.8M) in 3 transactions at $97.01 blended average, exiting 99.0% of holdings.

Director Hastings Reed executed 3 separate sales totaling 410,550 shares (410.6K shares) for $39,828,611.56 ($39.8M) on 2026-03-02, leaving only 3,940 shares post-transaction—a near-complete liquidation representing -99.0% of pre-transaction holdings. The sales occurred at prices ranging from $96.06 to $97.59, with a blended average of $97.01, while Netflix currently trades at $97.70 (-27.0% from its 52-week high of $133.91). Across Reed's cross-ticker open-market history, prior sells have demonstrated a 100.00% well-timed rate at the 90-day mark with an average 90d return of -73.7%, but his same-ticker history at NFLX shows 5 prior trades with no measurable 90-day outcomes yet and a 0% well-timed rate. The timing of this near-total exit warrant scrutiny given the scale and completeness of the position liquidation relative to the director's historical trading pattern.

Netflix director Hastings Reed sells 390,970 shares for $32.7M across 3 transactions, exiting 99.0% of holdings

Hastings Reed, a Netflix director, executed 3 separate sales on 2026-02-02 totaling 390,970 shares for $32,695,591.17 at a blended average price of $83.63, reducing his holdings from 394,910 shares to 3,940 shares—a -99.0% reduction. This near-complete exit is material given the director's prior position size and occurs when Netflix trades at $79.94, representing a -40.3% decline from the 52-week high of $133.91 and -12.1% over the past 30 days. His cross-ticker sell track record shows an average 90-day return of -92.6% with a 100.00% well-timed rate (all prior sells preceded declines), yet his same-ticker history at Netflix over the past two months shows 5 prior sells with negative 30-day outcomes (-8.4% to -13.3%) but no measurable 90-day results. The near-total liquidation of a directorial stake during a period of elevated price volatility and significant year-to-date underperformance warrants investor scrutiny of any company-specific developments or board-level concerns.

Director Hastings Reed sold 426,290 shares (99.1% of holdings) for $39.1M at blended average $91.67 on 2026-01-02.

Director Hastings Reed executed 4 separate sales totaling 426,290 shares for $39,077,469.61, reducing his position from 430,230 shares to 3,940 shares—a near-complete liquidation of 99.1% of his holdings. The sales occurred at prices ranging from $91.18 to $94.00, with a blended average of $91.67. The current price stands at $91.46, -31.7% from the 52-week high of $133.91, and the stock has declined 8.8% over 30 days and 23.2% over 90 days. His prior sales at NFLX show 30-day declines ranging from 12.2% to 90.4%, though none have yet experienced measurable 90-day outcomes. The scale and completeness of this liquidation—reducing holdings to 3.9K shares from 430.2K—distinguishes this transaction from routine portfolio management and warrants investor attention to the underlying motivations and context.

Director Hastings Reed sold 375,470 shares (~99% of holdings) for $40.7M across 3 transactions on 2025-12-01 at $106.85–$108.89.

Director Hastings Reed executed a near-complete liquidation of his NETFLIX position, selling 375,470 shares (representing -99.0% of his pre-transaction holdings of 379.4K shares) for an aggregate $40,712,436.13 across 3 separate sales on 2025-12-01 at prices ranging from $106.85 to $108.89 (blended average $108.43), retaining only 3,940 shares. The sales occurred when the stock was trading -18.3% below its 52-week high of $133.91 and -2.3% below its 30-day average. Notably, Reed's cross-ticker track record shows 20 prior sells with an average 30-day return of -90.4%, and his prior NFLX sales on 2025-10-31 each showed a 30-day return of -90.4%; however, timing context for the current filing is limited by the fact that 90-day measurable outcomes are not yet available for the prior October sales. The extreme scale of this divestiture—nearly complete liquidation of a director-level equity stake—represents a material reduction in insider holdings and should be viewed in context of the company's strong fundamentals: $11.5B quarterly revenue, $2.5B net income, +15.6% annual revenue growth, and a P/E of 4.44.

Director Hastings Reed sold 40,374 shares of NFLX for $45,279,704.39 across 26 transactions on 2025-10-31, reducing holdings by -99.0%

Hastings Reed executed a near-complete liquidation of his NFLX position on 2025-10-31, selling 40,374 shares across 26 separate transactions at prices ranging from $1,104.64 to $1,134.18, with a blended average of $1,121.51, reducing his holdings from 40.8K shares to just 394 shares post-transaction. This represents the most extreme form of insider departure from a Netflix position, leaving essentially no residual stake. The timing context is relevant: the stock has declined 18.4% from its 52-week high of $133.91 and is down 5.2% over the prior 30 days, yet Reed's sales were executed over a week in late October at prices spanning a $30 range. His cross-ticker track record of 20 prior sells shows an average 30-day return of -90.4%, a pattern of poor timing outcomes, and his five prior October 1st sales at this same ticker also exhibited 30-day returns near -90.5% with no well-timed outcomes yet at the 90-day mark. The concentration of this sale event (26 trades in a single day, disposing of 99% of holdings) combined with the systematic execution across price levels and the director's historical pattern of unfavorable sell timing warrants investor attention to whether this reflects a change in conviction about Netflix or other motivations for a complete exit.

Director Hastings Reed sold 42,176 shares (99.1% of holdings) for $49,427,028.78 at blended average $1,171.92 on 2025-10-01

Hastings Reed, a Netflix director, executed 15 separate sales on 2025-10-01, divesting 42,176 shares totaling $49,427,028.78 and reducing his holdings from 42,570 shares to 394 shares (a -99.1% net change). The sales occurred across a narrow price band ($1,164.15–$1,178.92), with a blended average price of $1,171.92, at a time when Netflix stock has declined 4.2% over the past 30 days and 10.4% over 90 days from its 52-week high. Reed's prior sales at Netflix (five separate sales on 2025-09-02) show 30-day returns of -90.3% to -90.4%, and his broader cross-ticker track record documents 20 prior sells with an average 30-day return of -90.3%. The company's fundamentals remain strong with revenue of $11,079,166,000.00, net income of $3,125,413,000.00, and a P/E of 4.82, though annual revenue growth has moderated to +15.6%.

Netflix director Hastings Reed sells 25,959 shares for $31,351,002.10, reducing holdings by 98.5% to 394 shares

Hastings Reed executed 21 separate sales totaling 25,959 shares for $31,351,002.10 on 2025-09-02, liquidating 98.5% of his 26,353 pre-transaction holdings and retaining only 394 shares. This near-complete divestiture is the most extreme form of insider share reduction and occurs at a blended average price of $1,207.71 per share. Critically, Reed's prior five sales at NFLX (all on 2025-08-01) each showed 30-day declines of -89.6% to -89.7%, and across his cross-ticker track record of 20 prior sells, the average 30-day return is -89.6%, establishing a consistent pattern of selling shortly before sharp price deterioration. The current price of $122.62 is -8.4% from the 52-week high and, if measured against the recent transaction prices (approximately ten-fold higher), represents an extraordinary post-sale decline, suggesting this director's sales once again preceded significant downward momentum.