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Netflix hikes pay for execs Reed Hastings and Ted Sarandos to $35m each
Netflix honchos will have more cash streaming into their pockets next year.
The video-on-demand giant will give its two top executives fattened pay packages in 2020 — each of them worth about $34.6 million, a new filing shows.
Netflix co-founder and CEO Reed Hastings will get $34 million in stock options on top of his $650,000 salary next year, according to a Monday SEC filing. That marks an increase from his total 2019 pay of $31.5 million.
Chief content officer Ted Sarandos — who has led Netflix’s original programming to dozens of primetime Emmys and six Oscars — will collect a whopping $20 million salary and some $14.6 million in stock options. His 2019 package was also worth $31.5 million.
Chief product officer Greg Peters will also see his pay jump next year to $18.9 million in salary and options from $16.8 million for 2019, filings show. Chief financial officer Spencer Neumann, who joined Netflix this past January, will get about $11.5 million in salary and options next year, the filing shows.
The hefty raises come amid a roughly 42 percent rise in Netflix’s stock price over the past year to a Monday closing of $333.10. The streamer also racked up 17 Golden Globe film nominations this month, led by the critically acclaimed dramas “The Irishman” and “Marriage Story.”
Source: New York Post
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