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Netflix Shareholders Vote Against Executive Pay: Report

Shareholders of video-streaming service 
Netflix
voted against the pay packages for executives, including co-CEOs Greg Peters and Ted Sarandos, Bloomberg reported.

The nonbinding vote, seen as a protest against high compensation, took place during an annual meeting, the report said, citing unidentified people familiar with the situation.
Netflix’s
(ticker: NFLX) board can disregard the results.

Sarandos is set to make as much as $40 million with his salary, bonus, and stock options. Peters is in line for about $35 million, while Netflix co-founder and executive chairman Reed Hastings will earn $3 million.

The vote comes after the Writers Guild of America started a strike for better pay and conditions in early May.

Netflix declined to comment on the report.

Write to Brian Swint at [email protected]

Read the full article here

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