Netflix Chief Legal Officer David Hyman Made $8.1M Last Year
David Hyman's total compensation for 2019 represents a nearly 24% increase over his pay the prior year, when he earned about $6.4 million.
April 23, 2020 at 02:02 PM
3 minute read
Longtime Netflix chief legal officer David Hyman raked in more than $8.1 million in total compensation last year, a hefty bump from his prior year's pay.
Hyman received a $1 million raise last year that lifted his base salary to $3.5 million. He also took home more than $4.6 million in stock option awards, according to Netflix's latest proxy statement.
Hyman's total compensation for 2019 represents nearly a 24% increase over his 2018 pay, when he earned about $6.4 million. In 2017, when his base salary was $1.7 million, he received $5.1 million in total compensation.
Netflix stated in its proxy filing that Hyman received a raise for 2019 based on "his performance in managing and developing a global legal and public policy function."
Hyman has served as Netflix's top lawyer since 2002. He also serves as the secretary for the Silicon Valley-based media and tech giant. Attempts to speak with him or a Netflix representative were not immediately successful.
Before Hyman joined Netflix, he served for three years as general counsel at Webvan, a dot-com bubble era online grocery delivery business that went bankrupt in 2001. Earlier in his career, Hyman worked as an associate at Arent Fox, Kintner Plotkin & Kahn and Morrison & Foerster.
While Hyman's pay is sizable, it pales in comparison to the total 2019 compensation for Netflix CEO Reed Hastings and chief content officer Ted Sarandos—they made $38.5 million and $34.6 million, respectively.
Hastings' pay, which included more than $37.4 million in stock awards, increased by about $2 million over the prior year. Sarandos' base salary moved up from $12 million to $18 million for 2019. He also received $16.5 million in stock awards.
Netflix announced in a 2017 SEC filing that it was increasing executive base pay in response to a tax reform bill that Congress passed that same year. The new law eliminated a tax loophole by prohibiting companies from deducting more than $1 million in performance-based bonus payments to executives.
Read More:
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFinancial Watchdog Alleges Walmart Forced Army of Gig-Worker Drivers to Receive Pay Through High-Fee Accounts
GC Pleads Guilty to Embezzling $7.4 Million From 3 Banks
In Lawsuit, Ex-Google Employee Says Company’s Layoffs Targeted Parents and Others on Leave
6 minute readGC With Deep GM Experience Takes Legal Reins of Power Management Giant
2 minute readLaw Firms Mentioned
Trending Stories
- 1Decision of the Day: Judge Reduces $287M Jury Verdict Against Harley-Davidson in Wrongful Death Suit
- 2Kirkland to Covington: 2024's International Chart Toppers and Award Winners
- 3Decision of the Day: Judge Denies Summary Judgment Motions in Suit by Runner Injured in Brooklyn Bridge Park
- 4KISS, Profit Motive and Foreign Currency Contracts
- 512 Days of … Web Analytics
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250