Netflix Shareholders Reject Proposed Executive Pay Package

It was a clear but largely symbolic message in the midst of the writers' strike.

Blurry of auditorium for shareholders' meeting or seminar event with projector.
(Image credit: Koonsiri Boonnak for Getty Images)

Netflix (NFLX) shareholders sent a clear but largely symbolic message to corporate executives at its annual meeting yesterday — don't ask for a raise. The "say on pay" shareholder proposal failed to pass, meaning investors thought the company's roughly $78 million compensation for the top three executives was unjustified.

The Writers Guild of America (WGA), currently on strike for better pay from platforms like Netflix, lobbied shareholders to vote against the pay raise. 

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Ellen Kennedy
Personal Finance Editor, Kiplinger.com

Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America.