Share “Netflix CEO gets pay bump after 2012 cut”

Netflix CEO gets pay bump after 2012 cut

Published on NewsOK Modified: December 28, 2012 at 7:23 pm •  Published: December 28, 2012
Advertisement

LOS ANGELES (AP) — Netflix CEO Reed Hastings' pay will double to $4 million next year, after he took a pay cut due to management missteps this year.

Hastings' annual salary will rise to $2 million in 2013 and he will get $2 million in stock options, according to a securities filing Friday.

That's up from a salary of $500,000 and $1.5 million in stock options for 2012.

Hastings' total pay for 2012 was down 43 percent from $3.5 million in 2011, when some controversial decisions, including a steep price hike on subscriptions, sent the stock spiraling. It fell from a high above $300 to a low below $70 per share.

This year, shares are up 29 percent, closing Friday at $89.33. Recovering from the missteps, the company expects to add around 5 million U.S. subscribers, to between 26.4 million and 27.1 million by the end of the year.


AROUND THE WEB

  1. 1
    Federal lawsuit filed against Sapulpa Public Schools in connection with rape allegation against...
  2. 2
    Fox News announces prime-time GOP debate participants
  3. 3
    Did Sen. James Lankford fall into the 'man trap' on abortion?
  4. 4
    Oklahoma State places three walk-ons on scholarship
  5. 5
    VIDEO: Blake Griffin teasing Space Jam 2 in new Jordan commercial?
+ show more

FEATURED JOBS



× Trending business Article