Netflix CEO Reed Hastings gets pay bump after 2012 cut
Reed Hastings Co-Founder and CEO Netflix poses during the Netflix UK launch in London, England on January 9, 2012.
Photographer: Getty Images
Copyright Getty Images
Posted: 12/28/2012
-
By: Associated Press
LOS ANGELES, CA - 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 pay of $500,000 and $1.5 million in stock options for 2012.
Hastings' pay for 2012 reflected a 50 percent cut to his stock option allowance, when some controversial decisions, including a steep price hike on subscriptions, sent the stock spiraling down in 2011.
This year, shares are up 29 percent, closing Friday at $89.33.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT- Your Region News
Click on the region names in the map below to see news from that region.
RIGHT NOW: Top Stories
-
PD: Vehicle that hit officer located
Police say they are now working to identify the driver of the vehicle that struck and killed Officer Daryl Raetz early Sunday morning.
-
I-17 reopens after police situation
The Department of Public Safety says one person has been taken into custody after apparently threatening to jump off the Northern Avenue overpass.
-
NOW: Billboard Music Awards
They battle it out weekly on the Billboard charts, and now they're competing at the Billboard Music Awards.
-
ABC15 exclusive: Cards' Carson Palmer
“There’s a handful of teams that win with defense, but a lot of teams, the teams that win, are the teams that are aggressive.”
-
Two $1M Powerball tickets sold in AZ
While Arizona can't claim the $590.5 million Powerball winner, two $1 million second prize winning tickets were sold here in the state.
-
Last Chance! Win iPad Mini from ABC15
You're just 15 Facebook likes from having a chance at one of 15 iPad minis!
