Netflix, Investors Ask Judge to OK Bonus Fight Settlement

Netflix Inc. and its board reached a settlement with shareholders who raised concerns about executives receiving performance bonuses for hitting near-guaranteed goals, according to filings in California federal district court.

The streaming platform agreed to implement certain corporate governance reforms for at least four years to end the derivative suit, shareholders told the U.S. District Court for the Northern District of California in their Thursday request for preliminary settlement approval.

Netflix’s top executives hit their targets in seven quarters and barely missed in an eighth, the shareholders said. The company paid the officers around $18.73 million from a target pool ...