Netflix’s two top execs, CEO Reed Hastings and chief content officer Ted Sarandos, will each see their pay rise to more than $34 million in 2020, according to the company’s filing with the SEC on Monday.
Both are set to make $34.7 million next year, which would represent a 10% pay increase from the $31.5 million each earned this year. For Hastings, the salary breaks down like this: He will receive a $650,000 base salary, with $34 million in stock compensation. For Sarandos the breakdown is a bit more even. He’ll get a $20 million base salary, with $14.65 million coming via stock options.
Hastings base salary will actually decrease slightly from $700,000, though his stock options will increase by nearly $3 million from this year. Sarandos, meanwhile, gets slight raises on both his salary ($18 million) and stock ($13.5 million).
Netflix also disclosed the pay for its two other chief executives. CFO Spencer Neumann will get $11.55 million, split virtually even between stock and base salary, while Greg Peters, chief product officer, is set to take home $18.9 million next year, with $12 million of that coming from his base salary.
For Peters, it’s a slight raise from the $16.8 million he took home this year, while Neumann’s compensation represents a sizable increase from the $6.3 million that former CFO David Wells took home last year. Neumann was named to his role in January.
Read original story Netflix’s Reed Hastings and Ted Sarandos to Get Pay Hike in 2020 – Each Will Earn $34.7 Million At TheWrap