Netflix CEO Reed Hastings’ Salary To Get 50% Bump To $3M In 2014

Remember Qwikster? Wall Street doesn’t.

The AP is reporting this morning that the Netflix CEO will get a healthy pay raise in 2014. According to a regulatory filing, Reed Hastings’ annual salary will jump to $3 million, up from the $2 million he earned this year. His annual stock option allowance also improves to $3 million from the current level of $1 million.

It’s hard to argue against the pay increase. Netflix had a great 2013. The stock price is up 296% on the year. It’s trading around an all time high of $365. The stock was the top performer in the S&P 500 and Nasdaq 100 this year.

The company isn’t raking in the profits, though. In its most recent quarterly report, Netflix only made $32 million. But Wall Street doesn’t seem to mind and so the company should stay the course raking in the subscribers and producing award-winning original content. Netflix just needs to remember to listen to their subscribers.

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Meg Whitman's salary bumped from a buck to $1.5 million

Hewlett-Packard's president and CEO Meg Whitman.

(Credit:Hewlett-Packard)

Hewlett-Packard CEO Meg Whitman appears to be getting a big reward for working to make the company more efficient.

The company's board has decided to up her salary from a mere $1 to $1.5 million, according to a HP filing with the US Securities and Exchange Commission on Tuesday.

The filing says that the board members want to "bring Ms. Whitman's salary to a competitive level among the salaries of the chief executive officers of HP's peer companies." This salary increase was effective as of November 1.

HP's stock price has done well during the past year, which is most likely another reason for the board's decision. Due to cost-cutting in several units and production lines, the company saw revenue declines in the fourth quarter, but its share earnings were better than expected. HP reported a profit of $1.4 billion, or 73 cents a share, on revenue of $29.1 billion this past quarter.

When Whitman took over at HP in 2011, she joined a legion of Silicon Valley executives who agreed to work for a single buck per year. The former eBay CEO also had the option to purchase 1.9 million shares of HP stock that would vest only when and if the company's stock price increased 120 percent over its price at that time.

Related stories'Desktops are not dead,' says HP's chiefFacebook's Sandberg, IBM's Rometty make Fortune power listHP, Staples, Dell signal a weak Windows 8 PC marketHP's Q2 revenue slips, but Whitman looks aheadHP sidesteps Autonomy drama; Israel-Palestine makes news Despite Whitman's meager salary, she has still been awarded end-of-the-year bonuses. Last year, she received a $1.7 million bonus along with additional stock options.

The $1 paycheck has become commonplace in the Valley in the past decade; previous executives opting for the symbolic salary include Apple's Steve Jobs; Google's Eric Schmidt, Sergey Brin, and Larry Page; Yahoo's Carol Bartz and Terry Semel; Cisco Systems' John Chambers; and Oracle's Larry Ellison, among others.

When contacted by CNET, HP had no additional comments beyond the filing.

Topics: PCs, Corporate and legal Tags: shares, stock, raise, HP, salary, Meg Whitman, Hewlett-Packard

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