Netflix CEO Reed Hastings Penalized $1.5M in Stock Options Because of That Whole Qwikster Thing

December 23, 2011

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Despite painfully apologizing for splitting up by-mail and streaming into two, costlier options, and then again painfully apologizing for trying to make the by-mail service a separate entity with a really stupid name, Netflix CEO Reed Hastings will still pay a price for his boners. Specifically, he'll pay over a million dollars in stock options. For the crimes of angering and losing customers, destroying Netflix's thriving stock prices, and almost making Hulu Plus seem like a viable alternative, it's been decided that Hastings' yearly stock option rewards will be halved next year, dropping his usual $3 million allowance down to a pitiful $1.5 million--in addition to his usual half-a-million dollar salary. Good luck surviving 2012 on only enough money for 250,000 Qwikster subscriptions, Hastings!

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