The annual stock-option allowance for Netflix Chief Executive Reed Hastings has been slashed, reports Bloomberg. The allowance was cut in half, from $3 million to $1.5 million, the story reports.
Hastings will receive the same salary for 2012 as for 2011: $500,000, the story notes, citing a regulatory filing.
The smaller allowance follows a turbulent period for the company. It comes after Netflix shares lost 75% of their value from their all-time closing high in July, following a price increase and an abandoned plan to divide the company’s mail-order and streaming services.