Goldman Sachs Finalizes $500 Million Executive Equity Awards
Goldman Sachs is awarding over $500 million in special equity payouts to roughly 20 top executives based on a five-year performance plan.
The Goldman Sachs Group is finalizing special equity awards totaling more than $500 million for approximately 20 of its top executives. These payouts represent the largest awards in the firm's history and originate from a performance-based plan established in October 2021 to reward outperformance over a five-year window. CEO David Solomon is expected to receive over $100 million, while other recipients include President John Waldron and business heads Ashok Varadhan, Dan Dees, and Marc Nachmann.
The board expanded the pool of recipients to a larger group of executives following employee concerns and shareholder pushback regarding leadership bonuses. This decision follows a previous action by the board to reduce David Solomon's pay by $10 million in the wake of a bribery scandal.
The final valuation of these awards will be determined by the share price over the next two weeks. The firm's stock has risen approximately 150% over the last five years, driving the scale of the payouts.
