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Netflix CEO Reed Hastings to Receive Big Pay Increase in 2013

DOWN: Reed Hastings
Reed Hastings

Chief content officer Ted Sarandos will also get a higher salary.

Netflix CEO Reed Hastings will get higher compensation in  2013 -- $4 million after $2 million in 2012.

He chose his salary to be $2 million, up from $500,000, and his stock options allowance to be $2 million, the online streaming company said in a regulatory filing Friday.

Last year, he got stock options worth $1.5 million, half of what he had received in 2011. It was the lowest amount of options Hastings received since 2009. His salary back then stayed unchanged at $500,000.

Chief content officer Ted Sarandos' total compensation rises to $4 million in 2013 from $2.8 million in 2012. He chose to get $2.2 million of that in salary. His stock options allowance remains unchanged at $1.8 million.

Email: Georg.Szalai@thr.com
Twitter: @georgszalai