Netflix CLO David Hyman Receives $17.3 Million Compensation Package

Netflix CLO David Hyman Receives $17.3 Million Compensation Package

He has been serving the company since 2002

The compensation of Netflix's top executive, David Hyman has risen to $17.3 million in 2024, a 26 percent increase from the previous year. Though his salary decreased to $1.5 million, compared with $4 million in 2023, the Company Secretary received substantial cash incentives and stock awards.

Acknowledging his contribution to the company's legal and public policies, the shift towards performance-based restricted stock aligns the pay with shareholder interests.

Last year, Hyman's pay was in the form of $9 million in stock awards and he also received $6 million in cash incentive plan compensation.

In 2022 and 2023, he received no stock awards and cash incentives.

Netflix granted fully vested stock options to top executives, with Hyman receiving $9.7 million in options in 2023.

In 2024, his option awards fell to $788,598 and he received $11 million in compensation as per his performance.

That’s because the company moved to an equal mix of performance-and time-based restricted stock "intended to promote pay-for-performance and aligned with shareholder interests."

Lauding Hyman’s performance, the company’s report read, "After reviewing the competitive market compensation paid by other similarly-situated companies, the Compensation Committee determined to keep Hyman's 2024 target compensation flat as compared to 2023.”

Having a JD and bachelor’s degrees from the University of Virginia, Hyman practiced law at Morrison & Foerster in San Francisco and Arent Fox in Washington, DC. He also served as the General Counsel of Webvan, an online internet retailer.