Business

Netflix’s Reed Hastings exercised $612 mln from stock options in 2020

Netflix Inc (NFLX.O) co-Chief Executive Officer Reed Hastings realized $612.13 million from exercising his stock options in 2020, a year of bumper subscription growth for the video-streaming giant.

The company, which crossed 200 million subscribers last year as people sought entertainment from home, saw its shares rise more than 67% in 2020.

Hastings purchased over 1.33 million Netflix shares last year in the exercising of his stock options, according to a filing.

The price at which stock options can be exercised is set in an agreement. The value of shares when the purchase is made could be varying.