secwatch.observer — SEC 8-K summary
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Issuer:     NETFLIX INC (NFLX)
CIK:        0001065280
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001065280-23-000334
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1065280/000106528023000334/0001065280-23-000334-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1065280/000106528023000334/nflx-20231206.htm
  HTML page:      https://secwatch.observer/filing/0001065280-23-000334

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