Reed Hastings: The New $6 Million Man - Broadcasting & Cable

Reed Hastings: The New $6 Million Man

Netflix CEO in line for 50% 2014 pay hike comprised of $3 million in salary, $3 million in stock option allowances
Author:
Publish date:
netflix-reed-hastings.top_.jpg

Move over, Steve Austin, there’s another $6 million man in our midst.

Netflix CEO Reed Hastings is in line to come away with that much in 2014 thanks to a healthier compensation package comprised of $3 million in salary and another $3 million in annual stock option allowances, according to an 8-K document filed Monday by the video streaming giant.

Hastings’ 2014 package represents a 50% boost over the $2 million in salary and $2 million in annual stock options set aside for him in 2013, a year that saw Netflix’s stock price soar. Netflix shares, which ended 2012 at $92.59 per share, hit a high water mark of $389.16 in 2013. Netflix shares were down 51 cents (0.14%) to $366.99 each in early trading Tuesday.

For the full story go to Multichannel.com.

Related