Netflix CEO gets pay bump after 2012 cut
12/29/2012 12:04:02 AM
(AP) Netflix CEO gets pay bump after 2012 cut
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.