Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The Netflix CEO’s compensation package for 2010 is $2.5 million, based on a $500,000 annual salary and $2 million in annual stock option allowances for the year.
Top executives at Netflix Inc. stand to earn $8.3 million in salary and stock options for fiscal 2010. CEO Reed Hastings will earn $2.5 million in 2010, based on a $500,000 annual salary and $2 million in annual stock option allowances, according to a document filed with the U.S. Securities and Exchange Commission.
Chief financial officer Barry McCarthy’s annual salary is $600,000 and his stock options total $850,000, according to the document. Leslie Kilgore, chief marketing officer, will earn $775,000 in salary and the same amount in stock options; Neil Hunt, chief product officer, will receive $866,667 in salary and $433,333 in stock options; and Ted Sarandos, chief content officer, is slated to receive an annual salary of $900,000 and stock options worth $600,000. Netflix is No. 18 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).
Through the first nine months of fiscal 2009 ended Sept. 30, Netflix reported a 20.8% increase in revenue year over year, from $1.01 billion to $1.22 billion, and a 40.8% increase in net income from $60.3 million in 2008 to $84.9 million.