NETFLIX INC — Director's Dealing 2004

Jan 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETFLIX INC (NFLX)
CIK: 0001065280
Period of Report: 2004-01-15

Reporting Person: DILLON THOMAS R (VP Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-15	Common Stock	S	1666	$64.92	Disposed	24872	Direct
2004-01-15	Common Stock	M	672	$3	Acquired	25544	Direct
2004-01-15	Common Stock	S	672	$65	Disposed	24872	Direct
2004-01-15	Common Stock	M	2298	$3	Acquired	27170	Direct
2004-01-15	Common Stock	S	2298	$65	Disposed	24872	Direct
2004-01-15	Common Stock	M	11883	$3	Acquired	36755	Direct
2004-01-15	Common Stock	S	11883	$64.79	Disposed	24872	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-15	Non-Qualified Stock Option (right to buy)	$3	M	672	Disposed	2011-01-24	Common Stock (672)	Direct
2004-01-15	Non-Qualified Stock Option (right to buy)	$3	M	2298	Disposed	2011-07-18	Common Stock (2298)	Direct
2004-01-15	Non-Qualified Stock Option (right to buy)	$3	M	11883	Disposed	2012-02-27	Common Stock (11883)	Direct

Footnotes

F1: Shares aquired pursuant to an ESPP.

F2: Disposition made pursuant to duly adopted trading plan under Rule 10b5-1(c).