Netflix CEO Reed Hastings will see a sizable increase in compensation in the new year, according to an SEC filing the company made on Friday. Hastings will receive $2 million in pay for the year, a fourfold increase from the $500,000 he received this year.

His stock option allowance has also received an increase, to $2 million in 2013 from the present $1.5 million.

Hastings' compensation package was cut significantly for 2012. Although his salary was the same as in the previous year, that $1.5 million stock option allowance was half of 2011's level.

The article Netflix CEO's Salary Quadrupled for 2013 originally appeared on Fool.com.

Eric Volkman has no positions in Netflix. The Motley Fool owns shares of Netflix. Motley Fool newsletter services recommend Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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