Netflix’s two top execs, CEO Reed Hastings and chief content officer Ted Sarandos, will each see their pay rise to more than $34 million in 2020, according to the company’s filing with the SEC on Monday.
Both are set to make $34.7 million next year, which would represent a 10% pay increase from the $31.5 million each earned this year. For Hastings, the salary breaks down like this: He will receive a $650,000 base salary, with $34 million in stock compensation. For Sarandos the breakdown is a bit more even. He’ll get a $20 million base salary, with $14.65 million coming via stock options.
Hastings base salary will actually decrease slightly from $700,000, though his stock options will increase by nearly $3 million from this year. Sarandos, meanwhile, gets slight raises on both his salary ($18 million) and stock ($13.5 million).
Netflix also disclosed the pay for its two other chief executives. CFO Spencer Neumann will get $11.55 million, split virtually even between stock and base salary, while Greg Peters, chief product officer, is set to take home $18.9 million next year, with $12 million of that coming from his base salary.
For Peters, it’s a slight raise from the $16.8 million he took home this year, while Neumann’s compensation represents a sizable increase from the $6.3 million that former CFO David Wells took home last year. Neumann was named to his role in January.