Netflix Co-Founder Reed Hastings Sells Shares Worth Hundreds of Millions

Reed Hastings, co-founder of U.S. streaming platform Netflix Inc. (NASDAQ: NFLX), exercised stock options on February 2 and sold approximately 390,000 shares in the market, netting about $32.8 million (roughly KRW 44 billion). On the same day, he was granted 756 new stock options with an exercise price of $82.76 and a maturity date in 2036. As a result, his direct holdings have decreased to 3,940 shares, valued at around KRW 400 million, but he continues to hold an indirect stake of over 21.4 million shares through a family trust. Separately, co-CEO Gregory K. Peters sold about 27,000 shares of Netflix common stock on February 10 for approximately $2.27 million (around KRW 3 billion), and Chief Legal Officer David A. Hyman sold shares worth roughly $460,000 (about KRW 600 million) on February 9.

In its Q4 2025 earnings report released on January 20, Netflix reported revenue of about $12 billion and 325 million paid subscribers, beating market expectations. Since then, amid guidance for fiscal 2026 and restructuring issues related to its proposed acquisition of Warner Bros. Discovery, the stock has been trading in the low-to-mid $80 range. The U.S. Department of Justice is conducting an antitrust review of the roughly $83 billion (around KRW 110 trillion) Warner Bros. Discovery deal, and Netflix executives have been addressing concerns about potential competition restrictions in U.S. congressional hearings and other forums.

Founded in 1997 and based in California, Netflix is a global streaming company offering original films, series, and animated content to subscribers in over 190 countries. Reed Hastings co-founded Netflix and served as its CEO for many years; he currently remains as the board chairman. Gregory K. Peters, together with Ted Sarandos, oversees company management under a co-CEO structure.