Netflix Co-CEOs Sarandos and Peters to Receive $40 Million Each in 2024

Changes in pay structure address shareholder concerns, eliminating option for all cash compensation.

Netflix's board has approved 2024 pay packages for its top executives, with co-CEOs Ted Sarandos and Greg Peters each set to receive compensation worth $40 million.
The pay structure has been changed in response to shareholder concerns, eliminating the option for executives to choose all cash compensation.
The 2024 pay packages for Sarandos and Peters will include a base salary of $3 million, target cash bonuses of $6 million, and stock worth $31 million.
Reed Hastings, who stepped down as CEO earlier this year, will receive a compensation package of $1 million in 2024, down from $3 million in 2023.
Netflix also disclosed 2024 target pay packages for CFO Spencer Neumann, who is set to receive $15 million, and David Hyman, chief legal officer and secretary, who will receive $11 million.