Netflix Reports Amendments to Executive Compensation Arrangements
Summary
On October 30, 2025, Netflix, Inc.'s Compensation Committee approved amendments to compensatory arrangements for co-Chief Executive Officers Ted Sarandos and Greg Peters, Chief Financial Officer Spencer Neumann, and Chief Legal Officer David Hyman. These amendments apply to the Netflix, Inc. Executive Officer Severance Plan and outstanding restricted stock unit ("RSU") and performance-based restricted stock unit ("PSU") awards. The amended Severance Plan (Ex. 10.1) is effective January 1, 2026, contingent on each executive's timely execution of a Severance Plan Amendment Consent Letter (Ex. 10.2) and an Award Amendment Consent Letter (Ex. 10.3). Material amendments to the Severance Plan include expanded circumstances for severance eligibility outside a "Change in Control Protection Period."
Why It Matters
Investors should note these amendments to executive compensation, effective January 1, 2026, as they expand severance eligibility and affect RSU/PSU awards, potentially impacting executive retention and future compensation costs.
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Key Quote
“Material amendments to the Severance Plan include the following, in each case, effective upon January 1, 2026, subject to the applicable Executive Officer's timely execution of the Severance Plan Amendment Consent Letter:.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001065280
- Filing Date
- Tuesday, November 4, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive