Netflix has had a heck of a year, and it appears that the company thinks a lot of the credit for that goes to its CEO, Reed Hastings.
In a new regulatory filing, Netflix revealed that Hastings’ annual salary will jump from $2 million to $3 million in 2014. Additionally his stock option allowance will increase from $1 million to $3 million giving him a total payout of $6 million for 2014.
Hastings’ pay increase make the most sense when you look at how the company’s stock performed this year. At the close of 2012 it was sitting at $92.59, and it hit an all time high of $389.16 this past Oct. As of the drafting of this post it is at $367.33.
Can the company’s success continue through 2014? We heard just yesterday that it is experimenting with a new pricing plan, and so long as it never attempts anything again like the whole Qwikster debacle, it should stay on a strong course for some time to come.