Netflix CEO Reed Hastings Sells $11 Million in Stock

 

reedhastingsNetflix CEO and co-founder Reed Hastings made $11.45 million this month by selling 85,835 shares of the company (NFLX) on January 18 according to filings with the Securities and Exchange Commission.

Shares were sold in three blocks on January 18 for:

– 62,119 shares at a price of $131.70 for $8,181,072
– 19,577 shares at a price of $132.38 for $2,591,603.26
– 5,139 shares at a price of $133.36 for $685,337.04

Hastings still owns 5,862,527 shares of Netflix held in a trust. Based on today’s price, those shares are worth over $820 million.

Reed co-founded Netflix in 1991 and the company went public on May 23, 2002. Netflix now has a stock market capitalization of over $60 billion.

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