Netflix Awards $11.7 Million Pay Package to Incoming CFO Neumann

Netflix Inc.’s Spencer Neumann will get $10 million in annual pay and receive an additional $1.7 million bonus as chief financial officer.

Neumann’s yearly compensation will be split between a salary and stock options, the Los Gatos, California-based firm said Jan. 7 in a regulatory filing. The options vest immediately upon being granted.

Spencer Neumann

Source: The Walt Disney Co.

Netflix hired Neumann last week, just days after Activision Blizzard Inc. abruptly put him on leave and then fired him for cause. Neumann, who was the entertainment software firm’s CFO, had a contract provision barring him from negotiating with other potential employers, except during the final ...