<SEC-DOCUMENT>0001214659-23-006341.txt : 20230502
<SEC-HEADER>0001214659-23-006341.hdr.sgml : 20230502
<ACCEPTANCE-DATETIME>20230502143917
ACCESSION NUMBER:		0001214659-23-006341
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230502
DATE AS OF CHANGE:		20230502
EFFECTIVENESS DATE:		20230502

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETFLIX INC
		CENTRAL INDEX KEY:			0001065280
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-VIDEO TAPE RENTAL [7841]
		IRS NUMBER:				770467272
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35727
		FILM NUMBER:		23878251

	BUSINESS ADDRESS:	
		STREET 1:		121 ALBRIGHT WAY
		CITY:			LOS GATOS
		STATE:			CA
		ZIP:			95032
		BUSINESS PHONE:		408-540-3700

	MAIL ADDRESS:	
		STREET 1:		121 ALBRIGHT WAY
		CITY:			LOS GATOS
		STATE:			CA
		ZIP:			95032-7606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETFLIX COM INC
		DATE OF NAME CHANGE:	20000229

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW YORK STATE COMMON RETIREMENT FUND
		CENTRAL INDEX KEY:			0000810265
		IRS NUMBER:				146103815
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		OFFICE OF THE STATE COMPTROLLER
		STREET 2:		14TH FLOOR, 110 STATE STREET
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12236
		BUSINESS PHONE:		518-486-6998

	MAIL ADDRESS:	
		STREET 1:		OFFICE OF THE STATE COMPTROLLER
		STREET 2:		14TH FLOOR, 110 STATE STREET
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12236
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF EXEMPT SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of the registrant</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Netflix, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of person relying on exemption:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York State Comptroller Thomas P. DiNapoli, Trustee of the New York
State Common Retirement Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Address of person relying on exemption:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of the New York State Comptroller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Legal Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">110 State Street, 14<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Albany, NY 12236</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Written material:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Text of May 2, 2023, email sent by Kyle Seeley, Corporate Governance
and ESG Investment Officer, New York State Common Retirement Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Netflix, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTE FOR Proposal 8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shareholder Proposal &mdash; Policy on Freedom
of Association</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Filed by the New York State Common Retirement
Fund and the New York City Retirement Systems</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting: June 1, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York State Comptroller Thomas P. DiNapoli and New York City Comptroller
Brad Lander urge Netflix, Inc. shareholders to vote &ldquo;<B>FOR&rdquo; Proposal 8 </B>on the proxy, which is a shareholder proposal
that urges the Netflix Board of Directors to adopt and publicly disclose a policy on Netflix&rsquo;s commitment to respect workers&rsquo;
rights to freedom of association and collective bargaining in its operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Netflix operates in a heavily unionized industry and employs individuals
subject to collective bargaining agreements. Despite this, the company does not have a human rights policy, or any formal, disclosed policy
commitments to respect workers&rsquo; rights to freely associate and collectively bargain; these are fundamental human rights recognized
by the International Labor Organization and the United Nations. The Netflix Board of Directors should adopt and publicly disclose its
commitment to respect these fundamental human rights, which will allow it to manage risks associated with labor controversies and protect
long-term shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Netflix has proclaimed itself a leader in
the highly unionized entertainment industry; it&rsquo;s time for Netflix to lead on protecting workers&rsquo; rights and long-term shareholder
value. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Netflix has not disclosed a policy on its
commitment to respect workers&rsquo; fundamental human rights to freedom of association and collective bargaining.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Netflix has stated it &ldquo;is now a leader in the highly unionized entertainment
industry.&rdquo;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>However, outside of its response to this proposal, Netflix lacks any meaningful disclosure concerning its commitment to freedom of
association or collective bargaining for its employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The international
                                            standards for freedom of association and collective bargaining established by the International
                                            Labor Organization (ILO) are commonly used by companies and reflected in the principles concerning
                                            fundamental rights set out in the ILO Declaration on Fundamental Principles and Rights at
                                            Work and United Nations&rsquo; Guiding Principles on Business and Human Rights.<SUP>1</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"><SUP>1</SUP> See Disney&rsquo;s commitment to utilizing the United Nations&rsquo; Guiding
Principles on Business and Human Rights as well as the principles referenced in the ILO&rsquo;s Declaration on the Fundamental Principles
and Rights at Work and the Convention on the Rights of the Child: https://impact.disney.com/app/uploads/Current/TWDCHumanRightsPolicy-FINAL.pdf;
see also Microsoft&rsquo;s Global Human Rights Statement. https://www.microsoft.com/en-us/corporate-responsibility/human-rights-statement?activetab=pivot_1%3aprimaryr5.</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Netflix&rsquo;s argument that it complies with all applicable laws should
be a given, but it is not a substitute for a stated commitment to <B>fundamental internationally recognized human rights</B>. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netflix states in its opposition statement that it respects
&ldquo;internationally recognized human rights,&rdquo; however, <U>it <B>fails to identify and commit to widely accepted international
human rights standards</B></U> and does not articulate how the company aligns its policies with the international human rights standards
for freedom of association and collective bargaining. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Shareholders lack information on the due diligence process Netflix uses to
identify, prevent, mitigate, and account for any violations of labor practices, including how it will remedy any misaligned practices.
A policy like the one advocated here could address these shortcomings. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Neither management nor the Board provides verification of the effectiveness
of the company&rsquo;s performance on its labor practices. Netflix states that it&rsquo;s committed to being a collaborative and honest
partner, however, given the vague nature of the company&rsquo;s commitment, shareholders have no way of verifying that commitment or how
it aligns with the company&rsquo;s overall policies and strategy. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Recent controversies and the Writers Guild
of America strike reinforce the need for Netflix to adopt a human rights policy.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Netflix has faced numerous controversies that have led to discontent among
its workforce, including protests, staged walkouts, demands regarding the company&rsquo;s culture, layoffs, and poor overall stock performance,
which directly impacts employee compensation.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The Writers Guild of America (WGA or Guild) strike reinforces the need for
Netflix to have a publicly disclosed human rights policy so that shareholders can assess Netflix&rsquo;s commitment to respect the rights
to freely associate and collectively bargain, as well as how the company will implement these commitments.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2022, the WGA accused Netflix of &ldquo;self-dealing,&rdquo; which led
to an adverse arbitration ruling that required Netflix to pay 216 theatrical movie writers an extra $42 million in unpaid residuals. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Recently, music supervisors at Netflix filed papers seeking a union-certification
election with the National Labor Relations Board because Netflix declined to voluntarily recognize the union.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Adopting a human rights policy would help Netflix ensure workers&rsquo; rights,
protect long-term shareholder value, and provide shareholders with greater transparency on these fundamental practices. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">--</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For questions, please contact Kyle Seeley at the
New York State Common Retirement Fund, kseeley@osc.ny.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">--</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>This is not a solicitation
of authority to vote your proxy.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Please DO NOT send
us your proxy card as it will not be accepted.</B></P>

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