The work of the co-executive directors of NetflixTed Sarandos and Greg Peters, will be compensated in 2024 with a total payment of US$ 40 million, which includes their salarybonuses and compensation in shares of the entertainment company itself.
The streaming platform presented a report this Friday to the Stock Exchange Commission (SEC) in which the salary of Sarandos and Peters was estimated at US$ 3 million each, plus an individual bonus from others US$ 6 million and US$ 31 million in compensation in the form of shares.
In addition, the letter details that the company has decided to eliminate this year the possibility that executives can choose whether they prefer to receive the latter concept in cash or in shares of the company. ”The committee decided to remove this feature from the program to allay shareholder concerns that executives could choose to collect all compensation in cash.”reads the text.
Sarandos, who had requested payment in cash on recent occasions, will be paid the same amount as he was in 2023, while Peters had an increase compared to the total $34.65 million he received this year.
Likewise, Reed Hastings, the co-founder of Netflix who resigned from his position as CEO in January of this year to occupy the position of executive chairman of the board of directors, is entitled to US$100,000 as salary, plus bonuses and share compensation that, together with the salary, total US$1 million. Dollars.
The company also set the salary of the financial director Spencer Neumannwho in total will be remunerated with US$ 15 million in 2024.
Netflix announced in October that it reached 247.1 million subscribers during the third quarter of 2023, 10.8% more than the same period last year, Despite the great uncertainty about the impact of the strikes hollywood on the world’s first streaming service.
The company then achieved a net profit of $1,677 million and revenue of $8,542 million, which represents an increase of 7.8% compared to the third quarter of 2022.
Source: Gestion
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