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.