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Netflix CEO Hastings Gets $29M in Stock Options

Netflix said that chairman and CEO Reed Hastings is set to get stock options worth $28.7 million for 2018, up from $21.2 million this year.

In a filing with the Securities and Exchange Commission, Netflix said that Hastings 2018 salary will be $700,000, down from $850,000 last year.

Ted Sarandos, the Netflix chief content officer who presides over the $6 billion the streamer plans to spend on programming is set to make $12 million in salary plus stock options worth $14.250 million. Last year, Sarandos’ salary was set at $1 million but he was expected to also earn a $9 million bonus in addition to $11 million in stock options.

Netflix said that because of changes to the way salaries above $1 million are taxed, the company is paying all cash compensation as salary, rather than as salary and performance bonuses.

RELATED: Netflix's Hastings Gets Lower Salary in 2017