By Ben Glickman

Netflix co-chief executives Ted Sarandos and Greg Peters will each have a total target compensation of $40 million in 2024.

The video streaming company said in a regulatory filing Friday that each co-CEO would make $3 million a year in base salary, and would have a target bonus of 200% of their pay, or $6 million each.

Sarandos and Peters will receive time-based restricted stock awards of $15.5 million and performance-based restricted stock unit awards of the same amount.

Bonuses under the company's program will be awarded if specific performance goals are reached.

Finance Chief Spencer Neumann will have a total target compensation of $15 million, which includes $1.5 million in base salary, a $3 million target bonus and $10.5 million in stock.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 08, 2023 18:10 ET (23:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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