{UAH} SUSAN RICE SELLS NETFLIX SHARES DAYS BEFORE JOE BIDEN CHOOSES RUNNING MATE

Susan Rice Sells Netflix Shares Days Before Joe Biden Chooses Running Mate

By Dade Hayes

Dade Hayes

Susan Rice, the former national security advisor who is considered a strong contender to be Joe Biden’s running mate in the presidential election, has sold shares in Netflix worth $305,323.

Her exercising of options was completed on Wednesday, according to an SEC filing late Thursday. Rice has been on the Netflix board since May 2018.

Biden is expected to name his vice presidential pick next week.

“Ambassador Rice’s sale of a fraction of her Netflix stock has nothing to do with VP speculation,” her spokesperson, Erin Pelton, said in a statement. “She filed a stock plan pursuant to SEC regulations over three months ago.”

The option price of Netflix shares at the point of the sale was $508.68. The stock has surged as high at $575 this year as COVID-19 has spurred the addition of 26 million subscribers in the first six months of 2020. On Friday, shares were down 4% at about $488.

Under her board compensation package, Rice gets 125 stock options a month.

In 2016, Rice said in a federal disclosure that her net worth was between $14.7 million and $28.5 million. Prior to her stint as President Obama’s national security advisor, she was U.S. ambassador to the United Nations and worked as a McKinsey consultant early in her career.

When Rice joined the Netflix board, she called it “a cutting-edge company whose leadership, high-quality productions, and unique culture I deeply admire.”

The field of VP candidates remains a full and varied one. Along with Rice, two major contenders are Sen. Kamala Harris and Rep. Karen Bass, both from California. Michigan Gov. Gretchen Witmer and Massachusetts Sen. Elizabeth Warren are also both still in the mix.

EM         -> { Trump for 2020 }

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