Netflix sets 2024 executive compensation: fixed salaries, RSUs/PSUs, expanded bonus, new severance plan

NETFLIX INC

Compensation Committee approved 2024 comp for co-CEOs Sarandos, Peters; Chairman Hastings; CFO Neumann; CLO Hyman.
Eliminated cash/stock option allocation choice; set base salaries: co-CEOs $3M, Hastings $100k, others $1.5M.
Expanded annual bonus to all execs at 200% target; granted RSUs and PSUs (relative TSR metric) instead of stock options.
Total target compensation: co-CEOs $40M each, Hastings $1M, Neumann $15M, Hyman $11M.
New Executive Officer Severance Plan effective Jan 1, 2024: up to 2x base+bonus in CIC, or base+bonus+LTI outside CIC.

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