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.   (AP Photo/Paul Sakuma, file)
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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