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Three members of Netflix board of directors are up re-election, including founder and CEO Reed Hastings, at the annual shareholders meeting scheduled for June 3, the company said Wednesday.
The Web's top video-rental said the meeting will be held at the company's headquarters in Los Gatos, Calif. One of the other items on the agenda is a non-binding vote on executive compensation, which is now a requirement under the the "Dodd-Frank Act" of 2010. This is the so-called say-on-pay requirement. Stockholders are to be given a chance to cast an advisory vote on the compensation of executive officers.
Netflix's board "unanimously recommended" in the company's filing Wednesday with the Securities and Exchange Commission that shareholders approve the executive compensation laid out by the board.
The other items on the agenda are:
In addition to Hastings, current board members Jay C. Hoag and George (Skip) Battle, are up for re-election. Hoag, a Netflix director since 1999, is the founding partner at venture capital firm Technology Crossover Ventures. Battle, a director since 2005, is the former CEO of Ask Jeeves.
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The Web's top video-rental said the meeting will be held at the company's headquarters in Los Gatos, Calif. One of the other items on the agenda is a non-binding vote on executive compensation, which is now a requirement under the the "Dodd-Frank Act" of 2010. This is the so-called say-on-pay requirement. Stockholders are to be given a chance to cast an advisory vote on the compensation of executive officers.
Netflix's board "unanimously recommended" in the company's filing Wednesday with the Securities and Exchange Commission that shareholders approve the executive compensation laid out by the board.
The other items on the agenda are:
*To ratify the appointment of KPMG LLP as the Company's independent registered public accounting firm for the year ending December 31, 2011;
*To approve our 2011 Stock Plan;
*To receive a non-binding advisory vote on the frequency of votes on executive officer compensation;
*To consider a stockholder proposal regarding majority voting, if properly presented at the meeting; and
Hastings, who is also Netflix's board chairman, is a shoe-in to be re-elected. In the past year under Hastings stewardship, the company's stock has soared, the number of subscribers has risen by over 60 percent and the company's streaming service is popular with consumers as well as investors. *To approve our 2011 Stock Plan;
*To receive a non-binding advisory vote on the frequency of votes on executive officer compensation;
*To consider a stockholder proposal regarding majority voting, if properly presented at the meeting; and
In addition to Hastings, current board members Jay C. Hoag and George (Skip) Battle, are up for re-election. Hoag, a Netflix director since 1999, is the founding partner at venture capital firm Technology Crossover Ventures. Battle, a director since 2005, is the former CEO of Ask Jeeves.
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