Netflix Executive Sells All Shares After Exercising Stock Options Worth 4 Billion Won Amid Market Volatility

Netflix Inc. (NFLX) disclosed that on June 17, insider Bradford L. Smith exercised non-qualified long-term stock options to acquire 35,990 common shares and, under a Rule 10b5-1 trading plan, sold the entire block the same day at approximately $77–$78 per share, realizing about $2.8 million (roughly ₩4 billion) in gains. After the transaction, Smith’s direct holdings stood at 79,690 shares. On July 1, directors Jay C. Hoag and Ann Mather were each granted 842 non-qualified stock options with a $74.19 exercise price and a July 1, 2036 expiration date, representing roughly $62,000 (about ₩90 million) in rights per person.

Netflix’s share price has rebounded following a corrective report addressing merger and acquisition rumors. As of early U.S. trading on July 2, the stock was up more than 3%, trading around $77. Wells Fargo maintained its “Equal Weight” rating on the shares and set a $105 price target. Netflix is scheduled to report second-quarter results on July 16, and assessments of its advertising business and subscriber growth outlook have diverged ahead of the earnings release after the recent share price decline.

Founded in 1997, Netflix is a U.S.-based global online video streaming company and industry leader with hundreds of millions of subscribers worldwide, driven by original content and a subscription model. Recently, it has diversified its growth drivers by introducing advertising tiers, conducting large-scale share buybacks, and launching live sports streaming, drawing market interest in changes to key executives’ and board members’ shareholdings.