Hastings will receive $ 2 million in salary and $ 2 million in compensation through stock options, according to a document filed with the U.S. Securities Commission scholarship. The wage increase is a significant bump over 2012, Hastings received $ 500,000 in salary and $ 1.5 million in stock options.
The earnings growth appears to be a renewed confidence in Hastings, including stock options grant was halved in December 2011 after botched plan this year to split the company into two - a plan that investors upset and caused a revolt subscriber. After a price increase has led to a number of cancellations subscribers, the company announced its intention to increase its off DVD-by-mail operations into a new company called Qwikster - plans that were scuttled after only three weeks.
Stock in the Los Gatos, Calif.-based company closed today at $ 89.33, up 22 percent a year ago but apart from its 52-week high of $ 133.43. The company traded as low as $ 52.81 this summer, but I have received a boost in the fall when the activist investor Carl Icahn disclosed that he had acquired a 10 per cent and was planned to launch a hostile takeover of Netflix.
