Netflix Sets Reed Hastings, Ted Sarandos’ 2022 Pay – $34M And $40M
Netflix said the compensation committee of its board of directors has set the annual salaries and stock option allocations for 2022 for co-CEOs Reed Hastings and Ted Sarandos. They amount to, respectively, $34 million and $40 million.
Netflix is one of the few companies that pre-announces anticipated compensation for their top executives.
Salaries of publicly traded companies’ top five highest-paid execs are disclosed in annual SEC proxy statements that have not yet been filed for 2021 for companies like Netflix that operate on a regular calendar year. They come out in the spring. But Netflix is one of the few that pre-announces option grants. The stock options are awarded fully vested on a monthly basis throughout the year. The 2021 grants will start in January.
Netflix said Hastings’ 2022 package includes $650,00 in salary and $34 million in an annual stock option allocation. Sarandos is taking and even split of $20 million in salary and $20 million in stock, according to an SEC filing.
For 2021, Hastings, who is Netflix founder and chairman, is set to receive $34 million worth of stock options and a salary of $650,000. Sarandos will receive options worth $14 million and a $20 million annual salary. The total compensation is for both would be about flat from 2020.
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