Netflix’s CEO is getting a 50% salary increase this year

Considering that Netflix’s shares quadrupled in value last year, its no surprise that the company’s CEO is getting a salary increase. A recent regulatory filing shows that the CEO,  Reed Hastings, will get a 50% salary increase, bringing his annual salary from $2 million to $3 million.

Netflix’s ongoing growth will result in a considerable financial boon for Reed Hastings, CEO of the video streaming service. Following a year in which the company’s shares quadrupled in value, the AP reports that Hastings will see a 50 percent pay bump for 2014. A recent regulatory filing shows Hastings’ annual salary will jump from $2 million to $3 million in 2014. Coupled with an increase from $1 million to $3 million in Hastings’ annual stock option allowance, Hastings’ total compensation will double this year.