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Netflix's Reed Hastings exercised $612 million from stock options in 2020

Author: Reuters
This post originally appeared on Stock Market News

Netflix's Reed Hastings exercised $  612 million from stock options in 2020© Reuters. FILE PHOTO: Reed Hastings attends the inauguration of Netflix new offices in Paris

(Reuters) – Netflix Inc (NASDAQ:) 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 during the COVID-19-imposed lockdowns, 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.

Graphic: Netflix co-CEO Reed Hastings exercised $ 612 mln in options in 2020 – https://graphics.reuters.com/NETFLIX-CEO/dgkvlyzwxpb/chart.png

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.

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