World Courant
In 2023, the then-newly named Netflix co-CEO Greg Peters noticed his whole goal compensation package deal develop to $40 million up from $26 million the earlier 12 months.
Co-CEO Ted Sarandos introduced in $49.8 million in 2023, with a base wage of $3 million, $28 million in inventory awards, an annual bonus of $16.5 million and all different compensation totaling near $2 million, down from $50.3 million the earlier 12 months.
Sarandos’ compensation package deal additionally contains, “$13,200 representing our matching contribution made beneath our 401(okay) plan, $55,913 for automotive companies, $620,013 for private use of firm plane, and $1,295,805 in residential safety prices paid to a third-party supplier by the Firm valued on the idea of mixture incremental price to the Firm,” per a proxy submitting.
Peters’ pay package deal included a base wage of $2.89 million, inventory awards of $22.7 million, a bonus of $13.9 million and all different compensation totaling $620,602.
Reed Hastings, now the corporate’s govt chairman who stepped down from the co-CEO slot as Peters took over the title, noticed his pay package deal fall to $11.9 million in 2023, down from $51 million a 12 months.
In December, the corporate permitted goal compensation packages value $40 million for Sarandos and Peters for 2024.
In response to shareholder issues, the corporate modified the best way it allotted the pay packages beginning and set salaries of $3 million, with performance-based money bonuses with a goal of $6 million and restricted inventory models and efficiency inventory models value $15.5 million every for each of the CEOs for the 12 months.
Up to now, Sarandos had taken a money wage of $20 million, with the rest of his pay in inventory.
The 2023 CEO pay was disclosed in a submitting Thursday, as the corporate reported first-quarter earnings. Netflix reported income of $9.4 billion and working earnings of $2.6 billion, each up from the earlier 12 months, and the addition of 9.3 million new subscribers.
Netflix’s Greg Peters Pay Hit $40M in 2023, Ted Sarandos Noticed $49.8M
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