Netflix Insiders to Sell Up to $18 Million of Stock
Two long-serving $Netflix(NFLX)$
Netflix stock as of late has been setting all-time-high prices, including Monday when it reached $773 in intraday trading. Strong third-quarter earnings, reported Thursday, were the latest upbeat news for the company.
Richard Barton adopted on July 26 a so-called Rule 10b5-1 plan to sell up to 12,062 Netflix shares through Dec. 31, 2025. Based on the Monday’s closing price of $772.07, that is $9.3 million of stock. Netflix disclosed the adoption of the plan in a form it filed with the Securities and Exchange Commission.
Insiders use such trading plans to remove the appearance that they might benefit from nonpublic information. The plans execute trades automatically when preset parameters such as price, volume, and timing are met.
Barton’s plan covers the potential exercise of vested stock options to acquire stock and the associated sale of shares. Barton has been a Netflix director since 2002, the same year the company—then a DVDs-by-mail rental service—had its initial public offering. He is a co-founder and co-executive chairman of $Zillow(Z)$
Timothy Haley adopted on Aug. 6 a plan to sell up to 11,737 Netflix shares—worth about $9.1 million—through Nov. 16, 2025. Shares will be sold by trusts for which Haley serves as a trustee and a partnership for which he serves as the sole general partner and limited partner. Haley has been a Netflix director since 1998 and is a managing director of venture-capital firms Redpoint Ventures and Institutional Venture Partners, which have both invested in Netflix.
Although the two directors adopted their selling plans months ago, neither plan has executed sales of Netflix stock yet.
Barton last sold stock on Dec. 11, 2023, when a trading plan acquired 6,842 Netflix shares through options and sold an equal number of shares for $3.1 million, or an average price of $459.36 each.
Haley last sold stock on July 5, 2023, when a trading plan acquired 1,022 Netflix shares through options and sold an equal number of shares for $460,100, an average price of $450.19 each.
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