Netflix's CEOs Earned a Combined $82.5 Million in 2020

Sean Burch

Netflix had a record-setting year in 2020 — and its top executives were rewarded handsomely for it, with co-CEOs Reed Hastings and Ted Sarandos bringing home a combined $82.5 million last year, according to a company filing with the SEC on Friday.

Hastings’ compensation jumped 12% last year to $43.23 million, according to the filing. The bulk of that — about $42.43 million — came from stock options; the rest of his compensation included a $650,000 salary and about $147,000 in “other” compensation.

Sarandos, meanwhile, was paid $39.3 million last year — up 13% from the $34.7 million he earned the year before. His compensation package included a $20 million salary and $18.3 million in stock options. Sarandos was named co-chief executive last July, adding to his role as chief content officer at the streaming giant.

Netflix pulled in a company-record 37 million new customers last year, thanks in large part to the pandemic forcing people to stay at home. Earlier this week, Netflix reported it added 4 million new subs between January and March, bringing the company to 207.5 million overall.

More to come…

Source: Read Full Article