NETFLIX INC — Director's Dealing 2011

Feb 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETFLIX INC (NFLX)
CIK: 0001065280
Period of Report: 2011-02-03

Reporting Person: HASTINGS REED (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-03	Common Stock	M	5000	$1.50	Acquired	5000	Direct
2011-02-03	Common Stock	S	5000	$211.05	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-03	Non-Qualified Stock Option (right to buy)	$1.50	M	5000	Disposed	2011-07-18	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1267128	Indirect

Footnotes

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

F2: Securities adjusted for non-reportable transactions to include shares acquired pursuant to in kind pro-rata distribution, from TCV VI, L.P. to its partners, without consideration.

F3: As Trustee of the Hastings-Quillin Family Trust.