Netflix CEO Reed Hastings to Get Huge Pay Raise

The stock has more than tripled this year

   

Netflix CEO Reed Hastings to Get Huge Pay Raise

reedhastings185 Netflix CEO Reed Hastings to Get Huge Pay RaiseThe head of DVD-by-mail and video streaming giant Netlfix (NFLX) is getting a hefty pay bump in 2014.

According to documents filed with U.S. regulatory agencies, Netflix CEO Reid Hastings will see his salary jump 50% next year, rising from $2 million this year to $3 million in 2014. The Netflix CEO will also see his annual option allowance for NFLX stock climb from $2 million this year, to $3 million next year, the Associated Press notes.

netflix mailbox 630 200x200 Netflix CEO Reed Hastings to Get Huge Pay Raise
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Overall, the Netflix CEO will see his total annual compensation surge from $4 million this year, to $6 million in 2014.

NFLX stock fell modestly in Tuesday morning trading. NFLX stock has more than tripled since the start of 2013.

In October, activist investor Carl Icahn sold about 3 million Netflix shares generating between $700 million and $800 million in profits for the billionaire and cutting his stake in Netflix in half.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/netflix-ceo-reed-hastings-get-huge-pay-raise/.

©2014 InvestorPlace Media, LLC

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