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Netflix CEO receives 50 percent pay bump for 2014

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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.

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