David A. Hyman, Chief Legal Officer at Netflix (NFLX), has demonstrated a consistent pattern of selling activity over the past year, as evidenced by SEC Form 4 filings. Since November 2025, Hyman has executed 32 transactions, all involving NFLX shares, with a total sell value exceeding $40.8 million and a total buy value of approximately $13.7 million. Notably, his recent activity has been exclusively focused on selling, with four transactions in early 2026 alone. On February 9, 2026, Hyman sold shares valued at $464,231.19, following earlier sales on February 3, 2026, totaling $470,242.32 across three transactions. These sales are part of a broader trend, including a significant transaction on November 4, 2025, where he sold shares worth $34.1 million, marking the largest single sale in the dataset.
Hyman’s trading activity reveals a clear bias toward reducing his NFLX holdings, with no recent purchases recorded. The transactions include a mix of sales (code "S") and dispositions (code "F"), with the latter often tied to tax-related events or other non-market-driven transfers. While the filings do not provide context for the motivations behind these sales, the data underscores a consistent divestment strategy. This pattern aligns with broader executive trends at Netflix, where insiders frequently adjust their holdings, though Hyman’s activity stands out for its scale and frequency. His actions reflect a measured approach to managing his equity position in the company, with a focus on liquidity and portfolio diversification.
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