NFLX — filing

There have been no material changes from the risk factors previously disclosed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Company Purchases of Equity Securities

Stock repurchases during the three months ended March 31, 2025 were as follows:

Period Total Number of Shares Purchased (1)

Average Price Paid per Share (2)

Total Number of Shares Purchased as Part of Publicly Announced Programs (1)

Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (1)

(in thousands)

January 1 - 31, 2025 703,147 $ 866.91 703,147 $ 16,534,209

February 1 - 28, 2025 1,354,600 $ 1,007.46 1,354,600 $ 15,169,503

March 1 - 31, 2025 1,656,081 $ 943.27 1,656,081 $ 13,607,380

Total

3,713,828 3,713,828

(1) In September 2023, the Company's Board of Directors authorized the repurchase of up to $10 billion of its common stock, with no expiration date, and in December 2024, the Board of Directors increased the share repurchase authorization by an additional $15 billion, also with no expiration date. For further information regarding stock repurchase activity, see Note 9 Stockholders' Equity to the consolidated financial statements in this Quarterly Report.

(2) Average price paid per share includes costs associated with the repurchases but excludes the 1% excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022.

Item 5. Other Information

Rule 10b5-1 Trading Plans

The adoption or termination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 officers and directors for the three months ended March 31, 2025, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act ("Rule 10b5-1 Plan"), were as follows:

Name Title Action Date Adopted Expiration Date Aggregate # of Securities to be Purchased/Sold

Jay Hoag (1)

Director Adoption 1/28/2025 1/30/2026 127,000

Ann Mather (2)

Director Adoption 2/7/2025 12/31/2025 2,448

Strive Masiyiwa (3)

Director Adoption 2/10/2025 12/31/2025 1,292

Brad Smith (4)

Director Adoption 2/10/2025 6/18/2026 10,697

Leslie Kilgore (5)

Director Adoption 1/22/2025 4/30/2026 3,430

(1) Jay Hoag, a member of the Board of Directors, trusts for which he serves as a trustee and a partnership for which he serves as the sole general partner and limited partner, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on January 28, 2025. The plan provides for the potential sale of up to 127,000 shares of Netflix common stock. The plan expires on January 30, 2026, or upon the earlier completion of all authorized transactions under the plan.