Netflix's Reed Hastings exercised $612 mln from stock options in 2020

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Reed Hastings, co-founder and CEO of Netflix attends the inauguration of Netflix new offices in Paris, France, January 17, 2020. REUTERS/Gonzalo Fuentes

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April 23 (Reuters) - Netflix Inc (NFLX.O) co-Chief Executive Officer Reed Hastings realized $612.13 million from exercising his stock options in 2020, a year of bumper subscription growth for the video-streaming giant.

The company, which crossed 200 million subscribers last year as people sought entertainment from home during the COVID-19-imposed lockdowns, saw its shares rise more than 67% in 2020.

Hastings purchased over 1.33 million Netflix shares last year in the exercising of his stock options, according to a filing. Graphic link: (https://tmsnrt.rs/3neR4Hn)

The price at which stock options can be exercised is set in an agreement. The value of shares when the purchase is made could be varying.

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Reporting by Chavi Mehta and Nishara Karuvalli Pathikkal in Bengaluru and Jessica DiNapoli in New York; Editing by Ramakrishnan M.

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