Netflix CEO Reed Hastings Gets $28.7 Million in Stock Options for 2018
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Netflix CEO Reed Hastings Gets $28.7 Million in Stock Options for 2018

Netflix CEO Reed Hastings Gets 28.7 Million in Stock Options for 2018

Netflix has had a great 2017. It has become an entertainment giant, with 109 million subscribers worldwide. Its stock, which closed Thursday at $192.71, is up 51% since the beginning of the year.
A lot of the credit for the outstanding results goes to Reed Hastings, Chairman and CEO of Netflix.

As a result, he is set to receive $28.7 Million in company stock options for 2018 in addition to an annual salary of $700,000. That’s a massive hike from the $21 million in stock options the Netflix chief received in 2017, while his base salary will decline from $850,000 this year, according to company filings with the SEC.

Stock options allow the employees to buy or sell company shares at a pre-determined price at some point in the future. When it comes to using stock options as corporate compensation, the recipient usually gets a buy option for whatever the market price is at that time.

Hastings currently has a net worth estimated at $2.2 billion, mostly tied to Netflix stock, and he was mentioned for the first time in the Forbes 400 list of richest Americans this year.

Netflix also disclosed salary and stock-option awards for other top execs in an 8-K filing on Thursday. Chief Content Officer Ted Sarandos will have a $12 million annual salary and will receive $14.25 million in stock options in 2018. CFO David Wells will have a base salary of $2.8 million and $2.45 million in stock options; Greg Peters, Chief Product Officer, will have a $6 million salary and $6.6 million in stock options; and General Counsel David Hyman’s 2018 pay package will include $2.5 million in salary and $3.275 million in stock awards.

The executive pay details for 2018 that Netflix released aren’t reflective of total pay, because they don’t include potential bonuses and other non-monetary benefits that form part of their compensation.

Megha Shah
Megha Shah
A dreamer, traveler, aspiring entrepreneur and a bookworm beyond repair, Megha Shah is extremely fond of writing and has been doing so since she was a child. Apart from being a part-time writer, Megha is currently in college, pursuing B. Com. (Hons). Megha is an ardent follower of ‘Hardship, Hustle and Heart’ and firmly believes in the power of hard work and destiny!

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