NETFLIX, INC. (NASDAQ:NFLX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 10, 2017, Netflix, Inc. (Netflix) filed a Form 8-K
disclosing the resignation of Neil Hunt, Chief Product Officer,
in July 2017. At that time, Netflix also announced that Mr. Hunt
would be succeeded by Greg Peters. Mr. Hunt resigned effective
June 23, 2017.
disclosing the resignation of Neil Hunt, Chief Product Officer,
in July 2017. At that time, Netflix also announced that Mr. Hunt
would be succeeded by Greg Peters. Mr. Hunt resigned effective
June 23, 2017.
In recognition of Mr. Peters’s new role, his compensation (as
described more fully in the Company’s proxy statement filed with
the Securities and Exchange Commission on April 24, 2017)
increased as follows (all amounts on an annualized basis and to
be pro rated for the remainder of the year):
described more fully in the Company’s proxy statement filed with
the Securities and Exchange Commission on April 24, 2017)
increased as follows (all amounts on an annualized basis and to
be pro rated for the remainder of the year):
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Annual Salary
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Annual Stock Option Allowance
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Estimated Target Bonus
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Greg Peters
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$1,000,000
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$3,400,000
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$4,000,000
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In connection with his departure from Netflix, Mr. Hunt entered
into Netflix’s standard form of release agreement with Netflix
which includes customary confidentiality and release provisions
and received a lump sum cash payment equal to $6,457,500.
into Netflix’s standard form of release agreement with Netflix
which includes customary confidentiality and release provisions
and received a lump sum cash payment equal to $6,457,500.
About NETFLIX, INC. (NASDAQ:NFLX)
Netflix Inc is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
