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: 2004-01-23

Reporting Person: PISANO A ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-23	Common Stock	M	16667	$3	Acquired	19667	Indirect
2004-01-23	Common Stock	S	16667	$75.91	Acquired	3000	Indirect
2004-01-23	Common Stock	M	16666	$3	Acquired	19666	Indirect
2004-01-23	Common Stock	S	16666	$75.91	Acquired	3000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-23	Non-Qualified Stock Option (right to buy)	$3	M	16667	Disposed	2011-09-19	Common Stock (16667)	Indirect
2004-01-23	Non-Qualified Stock Option (right to buy)	$3	M	16666	Disposed	2011-09-19	Common Stock (16666)	Indirect