Netflix CEO Reed Hastings’ pay will double to $4 million next year.
Hastings’ annual salary will rise to $2 million in 2013 and he will get $2 million in stock options, according to a securities filing Friday.
Hastings’ pay for 2012 reflected a 50 percent cut to his stock option allowance, when some controversial decisions, including a steep price hike on subscriptions, sent the stock spiraling down in 2011. It fell from a high above $300 to a low below $70 per share. This year, shares are up 29 percent, closing Friday at $89.33.
Recovering from the missteps, the company expects to add around 5 million U.S. subscribers, to between 26.4 million and 27.1 million by the end of the year.