WASHINGTON (dpa-AFX) - Internet movie subscription service provider Netflix Inc.(NFLX) disclosed in the U.S. Securities and Exchange Commission that it reduces the annual stock-option allowance for its Chief Executive Officer Reed Hastings to $1.5 million in 2012 from $3.00 million in 2011. Hastings' annual salary will remain unchanged at $500,000.
The company stated that annual stock-option allowance for its Chief Financial Officer David Wells will be $510,000 and annual salary will be $490,000 for the next year.
Annual salary for the both Chief Product Officer Neil Hunt, and Chief Content Officer Ted Sarandos, will be paid at $1.00 million in 2012. Annual stock-option allowance for Neil Hunt and Ted Sarandos will be $1.50 million, $1.80 million respectively.
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