Netflix's Hastings sells shares

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Netflix Inc. CEO Reed Hastings exercised 2,500 shares and sold 10,000 shares of common stock, according to a regulatory filing last week. Hastings reported he exercised 2,500 options for $1.50 apiece and sold 10,000 shares for $23.07 apiece Thursday. The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
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