Netflix’s Reed Hastings, Ted Sarandos to Receive No Pay

Despite a powerful 2020 when it comes to subscriber development, Netflix co-CEOs Reed Hastings and Ted Sarandos received’t see their pay improve in 2021, in keeping with a submitting with the Securities and Excahange Commission on Monday. Don’t fear, although, they’re nonetheless doing fairly nicely.

Between their salaries and inventory choices, Hastings and Sarandos will each earn $34.65 million in 2021 — placing them on par with their 2020 pay, which was a 10% enhance from the 12 months prior. Hastings will take house a $650,000 wage to associate with $34,000,000 in inventory choices, whereas Sarandos will earn a $20,000,000 wage and obtain $14,650,000 in inventory choices.

The submitting comes after Netflix, thanks largely to the coronavirus pandemic, loved one other huge 12 months when it comes to subscriber development. Netflix added 28 million new accounts through the first 9 months of the 12 months, placing the corporate simply on monitor to surpass the 29 million subscribers it added in 2019. The firm’s inventory worth has elevated dramatically because of this, too, with Netflix shares up greater than 55% because the begin of 2020. Netflix closed Monday at $519.12 per share.

Netflix CFO Spencer Neumann and COO Greg Peters additionally received’t obtain a pay improve subsequent 12 months. Neumann is ready to make $11.55 million, which features a $6 million wage, and Peters will take house $18.9 million, which incorporates his $12 million base wage.