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Netflix Co-CEOs Reed Hastings and Ted Sarandos To Make $ 34 Million Each In 2021 – Deadline

Chairman and co-CEO Reed Hastings is expected to receive $ 34 million in stock options and a salary of $ 650,000 for 2021, Netflix said in an SEC filing Monday.

Co-CEO and Director of Content Ted Sarandos, who takes less of his compensation in stocks, will receive options worth $ 14 million and an annual salary of $ 20 million.

Total compensation for the two would be roughly flat starting in 2020. Sarandos was named co-CEO in July.

The salaries of a company’s five highest-paid executives are disclosed in SEC annual proxy statements that have yet to be filed for 2020 by companies, including Netflix, which operate on a regular calendar year. Netflix is ​​one of the few to pre-announce the granting of options. Stock options vest fully on a monthly basis throughout the year. The 2021 grants will begin in January.

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A year ago, in December 2019, Netflix predicted that Hastings would see total compensation of $ 36.5 million for 2020 ($ 650,000 in base salary, $ 34 million in annual stock options) and that Sarandos would earn the same salary of $ 20 million in salary and $ 14.6 million in stock. options.

Today’s filing is the first look at executive compensation in a year marked by a global pandemic. Media and entertainment companies have laid off and laid off workers and entire businesses have shrunk, but none of that at Netflix, which has increased its subscribers and seen its inventory soar during the pandemic.

Many senior executives during the year have chosen to forgo or reduce their base salary for at least part of 2020. CEO compensation will be under heavy scrutiny this spring when most companies release their proxies for 2020 and that actual pay figures will be published.

Senior industry leaders are paid very well on average compared to other sectors. The average compensation of CEOs of major media and entertainment companies was around $ 40 million last year.

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