Netflix shareholders reject exec. pay

 

Netflix shareholders rejected proposed pay packages for a number of the company's top executives, including co-CEOs Ted Sarandos and Greg Peters, and former co-CEO Reed Hastings.  The vote came just days after the Writers Guild of America (WGA) sent Netflix shareholders a letter urging them to reject the pay packages on principle. The no vote by shareholders is non-binding, but will likely prompt Netflix to reconsider how it handles executive pay moving forward. Shareholders previously rejected Netflix's executive compensation plans in 2019. It's unclear whether or not the WGA letter actually influenced the shareholder vote; THR points out that it was sent after many institutional shareholders had likely already voted.