secwatch.observer — SEC 8-K summary
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Issuer:     NETFLIX INC (NFLX)
CIK:        0001065280
Form:       8-K
Filed at:   2022-12-23T23:59:59+00:00
Accession:  0001065280-22-000445
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1065280/000106528022000445/0001065280-22-000445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1065280/000106528022000445/nflx-20221222.htm
  HTML page:      https://secwatch.observer/filing/0001065280-22-000445

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer