December 21, 2021
Netflix ended 2021 the same way it ended 2020: No. 1 across most industry metrics. The company’s shares are trading up almost 15% from the end of 2020 at more than $600 per share. But bottom-line results don’t necessarily translate to a significant increase in personal wealth for Netflix senior executives already accustomed to the 1% income bracket.
Netflix co-CEOs Reed Hastings and Ted Sarandos will realize $34.6 million and $40 million, respectively, in total compensation for the fiscal 2022 year, according to a Dec. 21 regulatory filing. The compensation largely mirrors the executives’ 2020 compensation of $34.6 million each.
Hastings, who co-founded Netflix with Marc Randolph, will receive $650,000 in base salary (which Netflix pays payroll tax on), and $34 million in stock-based compensation (which Netflix does not pay taxes). Sarandos will get a base salary of $20 million, which is identical to his base salary in 2021.
CFO Spencer Neumann will split $7 million in base pay along with an additional $7 million in stock-based compensation. That compares with $6 million and $5.5 million, respectively, in 2021.
Greg Peters, chief operating officer and chief product officer, will see his base pay soar to $16 million from $12 million, while stock-based compensation increases to $8 million from $6.9 million.
Dave Hyman, chief legal officer, sees his compensation increase to $6 million and $5 million, respectively, compared with $4.7 million in separate base salary and stock options.
Finally, Rachel Whetstone, chief communications officer, makes the filing for the first time, realizing $5.5 million base salary and $1 million in stock options.