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

    Synopsis

    Netflix, 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.

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    Netflix 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.

    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.
    The Economic Times

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