Reed Hastings Cashes $506M From Netflix Stock Options
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- Hastings has netted $505.9 million over 16 months by exercising Netflix options at roughly $9–$10 per share and selling the resulting stock at market prices — a playbook he repeats at the start of every month.
- His April 1, 2026 transaction alone: exercised options on 420,550 shares at $9.44 and sold them at a $95.49 weighted average, pocketing $36.19 million in a single day.
- The exercise-and-sell routine leaves Hastings' ownership stake unchanged at 21,163,516 shares (about 0.5% of shares outstanding), worth roughly $2.09 billion at Thursday's $98.66 close; on Feb. 5 he also disclosed a 'bona fide gift' of 241,944 shares to the Hastings-Quillin Family Trust.
- Netflix shares hit a 15-month low of $75.86 on Feb. 12 amid the Paramount Skydance–Warner Bros. Discovery bidding drama, then rallied 30.1% after Netflix exited the deal, with a second subscription price hike in late March adding further fuel.
- Netflix stock rose just 5.2% in 2025 versus the S&P 500's 16.4% gain, but has flipped in 2026 — up 5.2% through Thursday while the S&P 500 has slipped 3.8%.
Why it matters: Each option was struck at roughly $9–$10 while shares trade near $90–$110, letting Hastings convert deeply in-the-money compensation into full market-price cash on a mechanical schedule — a reminder that founder option grants pay out handsomely even in years when Netflix gained just 5.2% versus the S&P 500's 16.4%.
