Netflix CEO Reed Hastings to Get Huge Pay Raise

by Christopher Freeburn | December 31, 2013 10:26 am

Netflix CEO Reed Hastings to Get Huge Pay Raise

reedhastings185 Netflix CEO Reed Hastings to Get Huge Pay Raise[1]The head of DVD-by-mail and video streaming giant Netlfix (NFLX[2]) is getting a hefty pay bump in 2014[3].

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.

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[4] generating between $700 million and $800 million in profits for the billionaire and cutting his stake in Netflix in half.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/12/reedhastings185.jpg
  2. NFLX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NFLX
  3. getting a hefty pay bump in 2014: http://www.mercurynews.com/business/ci_24822178/netflix-ceo-reed-hastings-get-50-percent-pay
  4.  sold about 3 million Netflix shares: http://investorplace.com/2013/10/icahn-cuts-netflix-stake-half/#.UsLhPnm1Kf0

Source URL: http://investorplace.com/2013/12/netflix-ceo-reed-hastings-get-huge-pay-raise/
Short URL: http://invstplc.com/1nvPPPq