Netflix’s Reed Hastings, Ted Sarandos to See Pay Hiked in 2020 to $34.7 Million Each

Netflix’s two highest-paid execs next year again are set to be CEO Reed Hastings and chief content officer Ted Sarandos.

The streamer disclosed compensation of its four top execs in an 8-K filing Monday, as approved by the board of directors’ compensation committee.

Hastings is to receive a salary of $650,000 and $34 million in stock options — for a total of $34.65 million — while Sarandos will hit the same total figure with a $20 million salary and $14.65 million in stock-option allocations.

In 2019, both Hastings and Sarandos were set to receive $31.5 million in total comp. For 2018, Hastings’ total compensation soared 48% — to $36.1 million. The value of Sarandos’ total compensation package increase 32%, to $29.6 million.

Netflix also disclosed the pay package for chief product officer Greg Peters, who is to receive $18.9 million ($12 million in salary and $6.9 million in stock) next year, and CFO Spencer Neumann, who is set to receive $11.55 million ($6.05 million in salary and $5.5 million in stock options) after joining the company in January 2019.

In 2017, the company said it was eliminating performance bonuses and instead would deliver all cash compensation as salary.

Netflix said the number of options granted to the execs each month will be determined based on the fair market value on the date of grant multiplied by 0.4. 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,” according to the company.

More Biz

  • United States President Barack Obama (L)

    Barack Obama on Kobe Bryant's Death: 'Nothing Is More Heartbreaking'

    President Barack Obama spoke about the heartbreaking deaths of Kobe Bryant, his daughter, Gianna, and the seven other victims of the shocking helicopter crash last month. “That loss is something that I know many are still grappling with — particularly, Kobe, because he was with his daughter and those families and those children. And those [...]

  • Kobe Bryant Dead

    How to Get Tickets to the Kobe and Gianna Bryant Memorial Service

    The Los Angeles Lakers have announced that fans that wish to attend the public memorial of Kobe and Gianna Bryant can register for tickets online beginning Friday. The memorial will take place at 10 a.m. on Feb. 24 at Los Angeles’ Staples Center. Kobe and Gianna Bryant were among the nine killed in a helicopter [...]

  • R Kelly Sexual Assult Accusations Mugshot

    R. Kelly Hit With New Charges Alleging Sexual Abuse Against a Minor

    R. Kelly has been hit with new federal charges in Chicago, alleging that he sexually abused a minor female for four years, beginning in 1997, according to the Chicago Tribune. The superseding indictment, which was made public Friday, alleged Kelly sexually abused a girl who was identified as “Minor 6.” Kelly is already in prison [...]

  • ViacomCBS

    Third Point Adds Stakes in ViacomCBS and Amazon

    Investor Dan Loeb has added small stakes in ViacomCBS and Amazon to the portfolio of his Third Point LLC investment firm during the final months of 2019. Third Point disclosed in a Securities and Exchange Commission filing on Thursday its ownership of shares in the newly merged Redstone empire and the high-flying e-commerce behemoth. Loeb [...]

  • Plume of black smoke rising from

    Universal Music Denies Accusation That It Is Downplaying Damage in 2008 Archive Fire

    The day after Universal Music Group revealed that it is planning an IPO within three years, an attorney for four artists who have claimed to have lost recordings in a 2008 fire that destroyed thousands of assets in the company’s archives has accused UMG of “gamesmanship” and downplaying and refusing to reveal the extent of [...]

  • Eric Braeden celebrates his 40th Anniversary

    TV Iron Man Eric Braeden Marks 40 Years on 'Young and the Restless'

    If not for a tennis game with actor Dabney Coleman in the late 1970s, Eric Braeden might never have landed his signature role as conniving business mogul Victor Newman on CBS’ “The Young and the Restless.” Braeden, 78, has become an Iron Man of daytime soaps who will mark his 40th anniversary on “Y&R” with [...]

More From Our Brands

Access exclusive content