Netflix Founder Reed Hastings Sells $40 Million Worth of Shares

Netflix Inc. (NASDAQ: NFLX) disclosed on April 1 that Board Chairman Reed Hastings sold approximately 400,000 shares—the entirety of his holdings after exercising stock options—in the open market, securing about $39.9 million (roughly ₩520 billion). On the same day, Hastings exercised options at $9.437 per share to temporarily boost his common-stock position, then executed a series of sales in the $95–97 per-share range. Following the transactions, his direct holdings fell to just a few thousand shares; however, through the Hastings-Quillin Family Trust, he continues to hold over 21 million Netflix shares indirectly. The sales were made under a prearranged Rule 10b5-1 trading plan adopted in August 2023, and at the same time, Hastings received a new grant of 654 non-qualified stock options and the corresponding 654 shares of common stock.

Independent directors Leslie J. Kilgore and Ann M. Sweeney also each received 654 non-qualified stock options on the same day, with an exercise price of $95.55—part of the board’s regular equity compensation—slightly increasing their derivative holdings without any separate market transactions.

Meanwhile, Netflix has rolled out a series of U.S. price adjustments, raising its Standard with ads tier to $8.99 per month, its ad-free Standard plan to $19.99, and Premium to $26.99. The company is also negotiating to expand its NFL game package, further growing its sports and live-content offerings.

In its fourth-quarter 2025 results announced January 20, Netflix reported quarterly revenue of $12.051 billion, full-year revenue of $45.2 billion, and more than 325 million paid subscribers. The company is pursuing major M&A to acquire assets such as Warner Bros. Studios and HBO in cash transactions.

Founded in 1997 and based in Los Gatos, California, Netflix is a global streaming-service provider with hundreds of millions of subscribers worldwide, extending its portfolio from original series and films to games and live sports and events. Reed Hastings, a co-founder and longtime CEO, now serves as board chair—stepping back from day-to-day management but remaining a key figure with substantial ownership.