Netflix increases CEO Hastings' 2013 salary to $4 million

Fri Dec 28, 2012 6:38pm EST

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(Reuters) - Netflix Inc doubled Chief Executive Reed Hastings's 2013 salary to $4 million, the video rental company disclosed in a regulatory filing.

Of the $4 million, Hastings will receive half in cash and half in stock options. This compares to $500,000 in cash and $1.5 million in stock options the company gave its CEO for 2012. (r.reuters.com/dev84t)

Netflix, which has struggled over the last year following an ill-fated attempt to split the DVD and streaming operations and a swooning stock price, recently attracted the attention of billionaire activist investor Carl Icahn who called for a sale of the company. Icahn holds about 10 percent stake in Netflix.

(This story has been corrected in paragraphs 1 and 2 to say Hastings' salary will double, not jump four-fold. Also corrects headline to say total salary will be $4 million. Removes paragraph 4 on CFO salary)

(Reporting by Himank Sharma in Bangalore; Editing by Sriraj Kalluvila)

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