Netflix Cuts CEO Reed Hastings Salary

Netflix said co-founder and CEO Reed Hastings’ baseline salary would be $1 million in 2015 — down from $3 million this year — in a regulatory filing.

At the same time, Hastings next year will receive an annual stock-option allowance worth up to $13.7 million of shares, per Netflix’s filing with the Securities and Exchange Commission. For 2014, Hastings’ comp package included $3 million annual salary and $3 million in stock options (up from $2 million in salary and $2 million stock options for 2013).

Also in the 8-K filing, Netflix said CFO David Wells would receive $2 million in salary and up to $1.675 million value in the company’s stock-option allowance. Chief content officer Ted Sarandos, with a $1 million salary, will receive $9.6 million value in stock options as well as up to $2 million in bonus for 2015.

Other 2015 executive compensation disclosed by Netflix: Chief product officer Neil Hunt stands to receive $1 million in salary as well as $1.87 million worth of stock options and up to $5 million in bonus; and Greg Peters, chief of Netflix’s streaming and partnerships office, will earn $1 million as well as 2.725 million stock options and a potential $1 million bonus, according to the company’s regulatory filing.

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