Netflix CEO Reed Hastings Gets $1 Million Salary Raise
Top executives at the streaming service, including chief content officer Ted Sarandos, will also receive pay increases after a great year in the stock market.
Netflix chief executive Reed Hastings will be making $3 million in salary next year, according to a company filing with the SEC.
That's up from $2 million this past year. His salary has been steadily rising since 2009, when he made just $500,000 in base pay.
Hastings will also be enjoying an additional $3 million in stock options. He received $2 million this past year and $1.5 million the year before that. According to a filing, he recently exercised more than 15,238 shares -- valued at more than $5.3 million.
Netflix has had a spectacular year in the stock market. The company's share price is up 296 percent. It's the second-best performing U.S. stock, behind Tesla.
Other executives at the company will also receive raises.
Chief content officer Ted Sarandos gets a salary bump from $2.2 million to $2.8 million, while chief product officer Neil Hunt's salary jumps from about $1 million to $1.75 million.