Reed Hastings CEO of Netflix (Nasdaq:NFLX) has skipped a post or two on his Facebook (Nasdaq:FB) page. Recently he got into some regulatory hot water by praising some key marketing types for reaching a milestone in number of users. The milestone while impressive was widely expected and came as no big surprise. Reg FD Nazi’s maintain he did not issue an olde school press release therefore it was insider. The regulator is now grappling with the pervasiveness of social media.
So it was kind of cute that when Reed Hastings got a very nice increase in salary he did not post it on his Facebook page. So if anyone missed it here is the new deal:
“On December 29, 1012 it was revealed in an SEC filing that Netflix will substantially increase CEO Reed Hasting’s paycheck in 2013. Hastings will receive cash and stock options of $2 million each, up from $1.5 million in options and a $500,000 cash portion in 2012, resulting in the largest cash payment Hastings has ever received.”
Not only did they slip this tid bit out during the Christmas holidays they released it on a Saturday just before New Years Eve when even high frequency trading starts to take a break.
Happy New Year Reed Hastings. Who covered the champagne!
- Netflix Bad Ass Disclosure. SEC Leadership by Inquisition $NFLX $FB $TWIT #REGFD #SEC #CORPGOV (financialskeptic.wordpress.com)