NETFLIX INC — Director's Dealing 2011

May 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETFLIX INC (NFLX)
CIK: 0001065280
Period of Report: 2011-05-02

Reporting Person: Giancarlo Charles H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-02	Common Stock	M	1855	$21.57	Acquired	1855	Direct
2011-05-02	Common Stock	S	1855	$238.22	Disposed	0	Direct
2011-05-02	Common Stock	S	833	$238.22	Disposed	5831	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-02	Non-Qualified Stock Option (right to buy)	$21.57	M	1855	Disposed	2017-06-01	Common Stock (1855)	Direct
2011-05-02	Non-Qualified Stock Option (right to buy)	$237.19	A	211	Acquired	2021-05-02	Common Stock (211)	Direct

Footnotes

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

F2: As Trustee of the Giancarlo Family Trust