NETFLIX INC — Director's Dealing 2004

Jan 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETFLIX INC (NFLX)
CIK: 0001065280
Period of Report: 2004-01-22

Reporting Person: DILLON THOMAS R (VP Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-22	Common Stock	M	8918	$3	Acquired	33790	Direct
2004-01-22	Common Stock	S	8918	$75.52	Disposed	24872	Direct
2004-01-22	Common Stock	M	2971	$3	Acquired	27843	Direct
2004-01-22	Common Stock	S	2971	$75.8	Disposed	24872	Direct
2004-01-22	Common Stock	M	2964	$3	Acquired	27836	Direct
2004-01-22	Common Stock	S	2964	$75.52	Disposed	24872	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-22	Non-Qualified Stock Option (right to buy)	$3	M	8918	Disposed	2011-07-18	Common Stock (8918)	Direct
2004-01-22	Non-Qualified Stock Option (right to buy)	$3	M	2971	Disposed	2012-02-27	Common Stock (2971)	Direct
2004-01-22	Non-Qualified Stock Option (right to buy)	$3	M	2964	Disposed	2012-02-27	Common Stock (2964)	Direct

Footnotes

F1: Disposition made pursuant to duly adopted trading plan under Rule 10b5-1(c).