Netflix Inc. co-founder and director Reed Hastings sold 410,650 shares of common stock for approximately $39.8 million on March 2, 2026. A regulatory filing disclosed the transactions on March 4. The sales occurred in multiple blocks at prices ranging from $96.0572 to $97.5869 per share.
The divestment followed an 18% surge in Netflix shares over the preceding week. This rally began after the company terminated merger negotiations with Warner Bros. Discovery.
Hastings also exercised options to acquire 410,550 shares on the same day as the sale. The exercise price for these shares was $9.667 per share.