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Netflix CEO Reed Hastings Has Sold $104 Million in Stock So Far in 2017

With Netflix stock shooting through the roof, Reed Hastings has been cashing in.

So far this year, Netflix’s chairman and CEO has sold stock worth $103.8 million, according to regulatory filings. His latest sale, on July 24, amounted to $20.7 million in shares.

Hastings still owns stock worth more than $2 billion at Netflix’s current share price. As of April 10, the exec owned 11.82 million shares of Netflix common stock (including options to purchase 5.96 million shares), representing a 2.71% ownership stake, according the company’s proxy statement.

Netflix investors last week buoyed the already high-flying stock to new record highs, after the world’s No. 1 subscription video service blew past subscriber-growth estimates for the second quarter. Netflix, which tallied 104 million streaming customers as of June 30, has a market capitalization of more than $80 billion — making it more valuable than companies including Time Warner, 21st Century Fox, Sony, Dish Network and CBS Corp.

In 2016, Hastings’ total compensation rose 39% last year, to $23.2 million. That comprised salary of $900,000 plus option awards totaling $22.3 million.

Among other recent Netflix insider transactions, chief content officer Ted Sarandos sold $31 million worth of stock on July 19. Sarandos’ comp package for last year included salary of $1 million, a $4 million cash bonus, and $13.9 million in stock awards. In 2017, Netflix expects Sarandos to be eligible for a target bonus of $9 million.

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