Netflix Co-Founder Reed Hastings Cashes Out $40 Billion in Stocks as Executives Follow Suit

At U.S. streaming company Netflix, Inc. (NFLX), co-founder Reed Hastings exercised a large block of low-strike stock options on June 1 and sold a roughly equivalent number of common shares in the open market the same day, realizing approximately $33 million (about ₩400 billion) in proceeds, while retaining his direct stake and roughly 21 million shares held in trust, according to a regulatory filing.

On June 17, executive Bradford L. Smith exercised multiple tranches of long-term stock options and sold about 36,000 shares under a Rule 10b5-1 trading plan, generating gains in the billions of Korean won, leaving him with around 80,000 shares of direct ownership.

Outside director Ann Mather received new stock options equivalent to 728 common shares on June 1 as part of routine compensation, with no separate market purchases or sales reported.

Netflix announced on June 15 that it will publish its second-quarter 2026 financial results and business outlook on July 16 via its investor relations website and a live video interview. ()

Recently, following Fox’s agreement to acquire Roku—which effectively ended Netflix’s pursuit of a Roku acquisition—the company’s stock saw heightened short-term volatility, including an intraday drop of over 3% in the U.S. market on June 16. ()

Headquartered in Los Gatos, California, Netflix is a global streaming subscription service offering movies, series, games, and live programming in over 190 countries. It is diversifying its revenue streams through ad-supported pricing plans and expansions into sports and gaming. ()

Founder Reed Hastings, who stepped down as CEO but remained on the board, has decided not to seek re-election at the June 2026 annual shareholder meeting, signaling ongoing changes in board composition and corporate governance. ()