Goldman Sachs give $100m in shares to 12 executives
Goldman Sachs Group awarded a dozen senior executives more than 700,000 restricted shares worth nearly $100 million (€75 million) as part of their 2012 bonus awards, according to securities filings on yesterday.
Goldman chief executive Lloyd Blankfein received 94,320 restricted shares, according to a filing with the US Securities and Exchange Commission yesterday. The shares were worth $13.3 million as of Goldman’s closing price on Thursday, when the shares were granted.
But Blankfein did not get the biggest award. Vice-chairman Michael Sherwood, who is co-head of Goldman’s international division, received 109,461, according to a separate filing. That award was worth $15.4 million as of Thursday’s closing price of $141.01.
The stock awards are delivered in three equal instalments through to 2016 and generally cannot be sold for five years.
Chief operating officer Gary Cohn and outgoing chief financial officer David Viniar each received 85,136 restricted shares worth $12 million. Vice chairmen Michael Evans, who is global head of growth markets, and John Weinberg, who is a co-head of investment banking, each received 75,208 restricted shares worth $10.6 million.
Mark Schwartz, a vice chairman and chairman of Goldman Sachs Asia Pacific and who re-joined Goldman in June, received 37,428 restricted shares worth $5.3 million. – (Reuters)