Netflix Co-CEO Hastings 2020 Compensation Valued at $43.2 Million, Mostly for Stock Options
April 23 2021 - 4:22PM
Dow Jones News
By Josh Beckerman
Netflix Inc. Co-Chief Executive Reed Hastings had 2020 total
compensation valued at $43.2 million, mostly for the value of stock
option awards, compared with $38.6 million in 2019. Base salary was
$650,000.
The total was $39.3 million for Ted Sarandos, who became co-CEO
last year, up from $34.7 million in 2019. Components included $20
million of base salary and $18.3 million of option awards, Netflix
said in its proxy filing.
Netflix doesn't use performance-based bonuses "as we believe
that they tend to incentivize specific, typically short-term
focused behavior rather than encourage long-term stockholder value
creation." The company grants fully vested 10-year options. It
believes options "correlate compensation with stockholder returns,
and encourage a long-term perspective."
The company will hold a virtual annual meeting on June 3.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 23, 2021 17:07 ET (21:07 GMT)
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