FILE - In this Aug. 2, 2011, file photo, Netflix CEO Reed Hastings speaks at a meeting in Palo Alto, Calif. Netflix Chairman and CEO Hastings is getting a 50 percent pay bump in 2014 after a year in which shares of the online video subscription company quadrupled to an all-time high. (AP Photo/Paul Sakuma, File)
Netflix plans 50 pct pay hike for CEO Hastings
The Associated Press
First Published Dec 31 2013 03:06 pm • Last Updated Dec 31 2013 03:06 pm
Los Gatos, Calif. » Netflix Chairman and CEO Reed Hastings is getting a 50 percent pay bump in 2014 after a year in which shares of the online video subscription company quadrupled to an all-time high.
A regulatory filing shows that Hastings’ annual salary will climb from $2 million to $3 million next year, and his annual stock option allowance also will rise by $1 million to $3 million. The $6 million in total pay compares to $4 million in 2013, when his pay doubled.
Netflix Inc. shares hit an all-time high price of $389.16 in October after ending 2012 at $92.59.
The company this year released original content like its "House of Cards" and "Orange Is The New Black" series, both of which have been hits with viewers.
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