THE BASICS

Who is eligible?

All regular, full-time Netflix Animation Studios employees who work in any province other than B.C. and their eligible dependents. You are full-time if you work 24 hours or more per week. Eligible dependents are defined as: 

• Your legal or common-law spouse.

  • • A common-law spouse means a person who is living with you in a committed, intimate relationship. 

• Your child under age 21, or under age 25 if they are a full-time student

  • • Note: If you are a Quebec resident, full-time students are covered for prescription drug benefits until the age of 26.

• Children under the age of 21 are not covered if they are working more than 30 hours a week unless they are a full-time student. 

Benefits coverage is effective on the date of hire. New hires have 31 days from their date of hire to complete enrollment.

MEDICAL

NAS offers a Health Plan through Canada Life. If you are covering yourself, NAS will pay 100% of the premium. If you are covering yourself and your family (spouse, domestic partner, children), NAS will pay 90% of the premium. For family coverage, you will have a post-tax payroll deduction. Please refer to the chart below for our medical plan highlights. 

DENTAL

• No Deductible

• Basic Dental services reimbursed at 100%

  • • X-rays, Oral Exams, Cleanings

• Major Dental Services reimbursed at 50%

  • • Dentures, Bridges, Crowns

• Orthodontia reimbursed at 50%

  • • Lifetime max of $1,500 (per person covered on the plan - adults & children)

• Annual maximum of $2,500 per individual for Basic and Major Dental services combined

VISION

• 100% reimbursement

• One eye exam every 12 months (adults & children)

• $150 for lenses, frames, and contacts every 12 months

LIFE & SERIOUS INJURY BENEFIT

In the unfortunate event that an employee passes away, NAS provides a taxable $1.5 million USD Life benefit to the employee's designated beneficiary. The Life benefit provides financial protection for beneficiaries when an employee passes away. We're asked how this benefit came to be, and the answer is simple: When the need arose. After an employee working at Netflix passed away suddenly, Netflix provided a $1 million benefit (this increased to $1.5 million in 2018) to the family to help lessen their worry. That decision has since become Netflix's practice. 

LONG-TERM DISABILITY (LTD) INSURANCE

NAS provides a long-term disability benefit of 66.67% of your monthly adjusted salary up to a maximum of $15,000. 

REGISTERED RETIREMENT SAVINGS PLAN (RRSP)

NAS offers a Registered Retirement Saving Plan (RRSP) to help you save for retirement. We help you get there with a 100% match on your regular contributions, up to the lesser of 4.5% of your salary or one-half of the CRA maximum.  

MENTAL HEALTH BENEFITS

At NAS, we know you want to produce work you are proud of. In order to perform your best, you have to feel your best. That is why we provide unlimited app-based coaching through Headspace Health*; meditation and mindfulness resources through Headspace; and access to free counseling, and work-life referrals through the EAP. 

TIME AWAY

Vacation Time

• Twenty (20) days accrued annually

Holidays

• Holidays vary by province.

Sick Time

• Ten (10) sick days each calendar year to care for yourself and/or dependents.***

Bereavement

• Up to five (5) days to be with your loved ones. 

Any other time off not noted here will be provided as required by law.

EMPLOYEE GIVING

At NAS, you have the ability to impact the world through the work you do and we realize you may also want to make an impact in a more personal way. You choose the organization(s) important to you, make contributions through the Employee Giving Program site and NAS will match your contributions.

STOCK OPTION PROGRAM (SOP) - New for 2026!*

*Non-production employees only. 

The NAS Stock Option Program (SOP) is unique. Employees have a choice in the degree to which they invest in Netflix equity through the stock option program.

Overview

Click here to watch an overview of the Stock Option Program

The Program

Translations of the below information are available here.

You have the opportunity to choose the amount of cash and equity you want to receive. The stock allocation is completely voluntary. If you’d like to receive options, you can allocate as much eligible salary to the SOP as you’d like. The program allows you to benefit from the growth of our stock price over time by accumulating options and then exercising them later when the price of the underlying Netflix stock has risen.

What is a stock option?

A stock option is the right to purchase a share of Netflix stock at a predetermined price, called the exercise price. Options become valuable as the stock price appreciates above the exercise price. Netflix options are granted each month and expire 10 years from the grant date.

A simple way to think of a stock option is to think of it like a coupon. The coupon is valuable to you when the regular price of the item is higher than what you can buy it for with your coupon, and once they expire they are no longer valid. Let’s say you receive a coupon to buy an item at $100 until the printed expiration date. You go into the store and see that the retail price is $150. You redeem your coupon and buy it for $100, which saves you $50. In the context of stock options, you might have an option with an exercise price of $100. You exercise and sell your option later on when your stock price is $150, so your gain is $50!

Option Grants

Options are granted on the first trading day of each month. The exercise price of your options will be the closing price of Netflix stock on the day that the options are granted.

Generally, there are two factors that determine the number of options you receive:

1. the amount you are contributing to the program and

2. the cost of each option.

We calculate the monthly contribution by taking the annual amount that you’ve allocated and dividing it by twelve. The cost of each option is 40% of the exercise price. We’ll divide the monthly contribution by the cost of the option, then we know how many options you should get for the month.

As an example, assume the following:

• Your Annual Allocation: = $12,000 annually or $1,000 monthly

• Closing Price on the Grant Day: $200

Monthly Calculation:

Now you have 12 options or, in other words, the right to buy 12 shares of Netflix stock at $200.

A couple of points not mentioned above for simplicity's sake:

• We don’t grant fractional options so we always round down; any remaining amount of allocation is carried over to the next month.

• When you first join your option allocation is prorated from your hire date.

Vest Schedule

Good news! Our options are immediately vested. This means that we can exercise our options whenever we would like, subject to insider trading restrictions.

Option Expiration

Generally, your options will expire 10 years after the grant date, regardless of your employment status.

Understanding the Value of Your Options

Simply put, options gain value as the stock price appreciates above the exercise price. The higher the stock price goes above the exercise price, the more your options are worth.
Participating in the program is an investment choice that allows you to exchange salary for options. The salary you exchange goes to cover the cost of the options, which is 40% of the exercise price. You could consider this as the premium you pay to get the right to buy a share at the exercise price. When thinking about the actual value of the options, you want to consider this 40% cost as your initial investment.

In our example above, we exchanged $80 of our salary to get each option with a $200 exercise price. If we have exchanged $80 of salary for each option to buy a share at $200, our total investment will be $280 per share.

The stock price would need to go up to at least $280 before we start to make a profit on the salary we exchanged, which means the stock value must appreciate by at least 40% above the exercise price. Continuing our example, let us assume that we exercise and sell our 5 options at $300. If we invested $280 per option and sold at $300, our profit is $20 per option, or $100 total***.

This doesn’t mean that you must wait until the stock price goes up at least 40% before you exercise however. You can exercise your options at any point, as long as the stock price is above the exercise price.

***To keep the math simple, the above examples do not include taxes or fees.