Netflix Boss' Stock Options Cut in Half

Reed Hastings pays for battered share price

By Kevin Spak,  Newser Staff

Posted Dec 23, 2011 12:55 PM CST

(Newser) – Netflix CEO Reed Hastings is paying the price for the price hike/Qwikster debacle that has sent the company’s share price down 75% since July. Hastings' annual stock option allowance will be cut by 50%, bringing it to $1.5 million, the company revealed in a regulatory filing yesterday. He'll still take home a $500,000 salary in 2012. Chief Marketing Officer Leslie Kilgore, meanwhile, will take a salary cut from $802,000 down to $575,000, though her option allowance will increase from $1.1 million to $1.3 million, Bloomberg reports.

In this June 7, 2010 file photo, Netflix CEO Reed Hastings greets the audience at the Apple Worldwide Developers Conference, in San Francisco.
In this June 7, 2010 file photo, Netflix CEO Reed Hastings greets the audience at the Apple Worldwide Developers Conference, in San Francisco.   (AP Photo/Paul Sakuma, file)
Netflix CEO Reed Hastings speaks at Facebook's f8 developer's conference in San Francisco on September 22, 2011.
Netflix CEO Reed Hastings speaks at Facebook's f8 developer's conference in San Francisco on September 22, 2011.   (Getty Images/AFP)
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