Netflix Co-CEOs Reed Hastings and Ted Sarandos each saw a slight dip in their total compensation in 2021 compared to 2020, according to a new SEC filing.The company’s preliminary proxy statement said Hastings made $40.8 million last year, compared with $43.2 million in 2020.
Sarandos collected $38.2 million, down from $39.3 million. Last December, Netflix had released guidance for executive compensation, as is its custom.
That outlook anticipated Hastings’ pay at $34 million, with Sarandos at $40 million.The co-heads of the company have different pay structures.
Sarandos earned a salary of $20 million, with most of the balance of his compensation coming in the form of option awards. Hastings, who co-founded the company, took a salary of $650,000, with an option award of more than $37 million.Chief Product Officer Greg Peters was the next-highest-paid Netflix exec, though his package also declined by about $400,000 to almost $20.4 million.Netflix’s stock price, which helps determine the value of executive pay packages, has been subdued of late.
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