| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Netflix CEO receives 50 percent pay bump for 2014

Email Newsletters

Sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Wednesday, Jan. 1, 2014, 12:01 a.m.

Netflix Chairman and CEO Reed Hastings is getting a 50 percent pay bump in 2014 after a year in which shares of the online video subscription company quadrupled to an all-time high.

A regulatory filing shows that Hastings' annual salary will climb from $2 million to $3 million next year, and his annual stock option allowance also will rise by $1 million to $3 million. The $6 million in total pay compares to $4 million in 2013, when his pay doubled.

Netflix Inc. shares hit an all-time high price of $389.16 in October after ending 2012 at $92.59.

The company this year released original content like its “House of Cards” and “Orange Is The New Black” series, both of which have been hits with viewers.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Demand for surveillance systems boosts sales for Vector Security
  2. Fed slashes its emergency power options in crisis
  3. Stocks dip on lower holiday spending fears
  4. Distractions can help keep riders alert in self-driving cars, study finds
  5. IMF adds China’s yuan to basket of top currencies
  6. Pennsylvania Game Commission reaps revenue from shale gas under game lands
  7. Cyber Monday increasingly a ‘blah-iday’ as deals rolled out earlier, longer
  8. Program lets public service workers be forgiven for student debt
  9. Energy Spotlight: Minking Chyu
  10. Yahoo investors losing patience with ‘star’ CEO Marissa Mayer