Netflix CEO Reed Hastings to receive nearly $30 million in stock options next year

reed hastings netflix

Netflix plans to shower CEO Reed Hastings with even more stock options next year.

According to a public filing issued Thursday, Hastings, who co-founded Netflix (NFLX), is usually due to receive $28.7 million worth of stock options in 2018 on top of his $700,000 base salary.

Over the past few years, Hastings has seen his annual salary dip slightly in favor of a significant hike in his stock options, public filings show.

In 2016, Hastings was given a $900,000 base salary in addition to $19.1 million in stock options.

This particular year, his base salary was slashed to $850,000 yet he was slated to receive $21.2 million in stock options.

Related: Netflix to speand up to $8 billion on programming next year

Hastings is usually already extremely wealthy. He broke onto the exclusive Forbes 400 list of richest Americans This particular year, cinching the 359th spot with his $2.2 billion fortune.

The California-based tech entrepreneur founded Netflix as a DVD-delivery company inside the late 90s, in addition to the firm successfully morphed into a video streaming powerhouse as DVDs became outdated.

in addition to Netflix is usually showing no signs of slowing down. The company’s stock is usually up more than 55% in 2017.

that will’s a common practice throughout corporate America to compensate employees with stock options. in addition to that will’s part of what has driven CEO compensation to astronomical highs over the past couple of decades.

Stock options allow a person to buy or sell company shares at a pre-determined cost at some point inside the future. When that will comes to using stock options as corporate compensation, the recipient usually gets a “buy” option for whatever the market cost is usually at that will time.

The thinking goes that will C-suite executives will be encouraged to please investors, in addition to so drive the company’s stock cost higher, so their options will become more valuable. If the company’s stock tanks, however, these options can become virtually worthless.

sy88pgw (fresh York) First published December 28, 2017: 7:37 PM ET

Netflix CEO Reed Hastings to receive nearly $30 million in stock options next year

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