- Netflix has increased the pay of CEO Reed Hastings and CCO Ted Sarandos
Netflix has increased the pay of chief executive officer Reed Hastings and chief content officer Ted Sarandos. And both will receive increases in their annual stock options.
Hastings — who is the co-founder of Netflix — will receive $34 million in stock options. This is a 10% increase from 2019, according to an SEC filing spotted via Bloomberg. However, Hastings’ salary will drop slightly at $650,000. Sarandos will gain 11% in salary to $20 million and his options grants are increasing 8.5% to $14.65 million.
Netflix’s chief financial officer will be receiving a $6.05 million salary and $5.5 million in stock option allocations. And Netflix chief product officer Greg Peters will receive a $12 million annual salary and $6.9 million in annual stock option allocations.
The stock options are granted fully vested and can generally be exercised up to 10 years following the date of grant, regardless of employment status.
