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\n\tJay Hoag<\/a>, who has served on Netflix<\/a>\u2018s board since 1999, failed to get reelected at the company\u2019s annual shareholder assembly this week \u2014 and now the board should determine whether or not to maintain him or let him go.<\/p>\n \n\tAt Netflix\u2019s June 5 annual assembly, 78% of the shares that have been voted on Hoag\u2019s reelection to the board have been towards him. As such, Hoag \u201coffered his resignation from the board, conditioned upon board acceptance,\u201d Netflix disclosed in an 8-Ok submitting Friday<\/a>.<\/p>\n \n\tPer the board\u2019s coverage, Netflix\u2019s nominating and governance committee \u201cwill consider Mr. Hoag\u2019s resignation and recommend to the board regarding whether to accept or reject the resignation or take other action.\u201d The board \u201cwill act on the committee\u2019s recommendation and publicly disclose its decision and rationale within 90 days from the date the election results are certified,\u201d Netflix stated.<\/p>\n \n\tWhy did the vote go towards Hoag? What appears to have swung sentiment towards him was his \u201cpoor attendance\u201d file at Netflix board occasions, based on shareholder voting advisory agency ISS. In an advisory word, ISS stated that when \u201ca director fails to attend at least 75% of the aggregate of his or her board and committee meetings, adverse vote recommendations will be issued with respect to that director in the absence of a valid reason.\u00a0Accordingly, support for Jay Hoag is not considered warranted due to poor attendance.\u201d<\/p>\n \n\tIn 2024, Hoag\u2019s attendance file was 50%. This yr thus far, nonetheless, his attendance at Netflix board occasions is 100%.\u00a0And, based on Netflix, his price of attendance from 2019-23 was 97%.<\/p>\n \n\tHoag was an early investor in Netflix. Since 1995, he\u2019s served as a founding normal accomplice at venture-capital agency Technology Crossover Ventures (TCV). In addition to Netflix, Hoag is a board member of Zillow Group, TripAdvisor and Peloton Interactive. He is also on the funding advisory committee on the University of Michigan, the board of trustees of Northwestern University, and the board of belief at Vanderbilt University. Hoag holds an undergraduate diploma from Northwestern and an MBA from the University of Michigan.<\/p>\n \n\tOn Thursday, Netflix shareholders did reelect 11 of the corporate\u2019s board members \u2014 co-CEOs Ted Sarandos and Greg Peters, chairman Reed Hastings, Richard Barton, Mathias D\u00f6pfner, Leslie Kilgore, Strive Masiyiwa, Ann Mather, Greg Peters, Ambassador Susan Rice, Brad Smith and Anne Sweeney. Previous board member Timothy Haley, co-founder of VC agency Redpoint Ventures, had knowledgeable Netflix of his resolution to not stand for reelection on the 2025 annual assembly.<\/p>\n \n\tMeanwhile, Netflix traders voted to approve the compensation of Sarandos and Peters<\/a> together with the corporate\u2019s different senior executives. The proposal \u2014 a nonbinding \u201csay-on-pay\u201d advisory vote that serves as a barometer of investor sentiment \u2014 handed at Netflix\u2019s 2025 digital shareholder assembly, based on the SEC submitting.<\/p>\n \n\tFor 2024, Sarandos\u2019 complete compensation was $61.9 million (up 24.3% from the yr prior) and Peters had a pay bundle price $60.3 million (up 50.2%). Both earned a base wage of $3 million and obtained $42.7 million in inventory awards, in addition to a money bonus of $12 million every; Sarandos was granted $2.3 million in choice awards and Peters obtained $2 million.<\/p>\n \n\tInvestors don\u2019t all the time rubber-stamp such issues. Earlier this week, Warner Bros. Discovery shareholders voted towards the pay packages of CEO David Zaslav and different prime execs<\/a>.<\/p>\n