Netflix revamps 2023 executive comp: bonus plan, salary caps, stock option minimums

NETFLIX INC

New performance-based cash bonus program for Ted Sarandos and Greg Peters; Hastings excluded due to salary cap.
Reed Hastings: $650k salary, $34M stock options, no bonus target; Sarandos: $3M salary, $20M options, $17M target bonus.
Greg Peters: $1.5M salary, $12M options, $10.5M target bonus; CFO Neumann: $7M salary, $7M options, no bonus.
Minimum 50% of allocatable comp must be stock options; salary capped at $3M for co-CEOs, $1.5M for COO.
Stock options for co-CEOs and COO vest one-year from grant; CFO and other NEOs vest immediately.

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