Goldman Sachs to Pay Out $111.3 Million of Stock to Executives

Goldman Sachs Group's (GS) top executives will receive about $111.3 million worth of stock next month in delayed compensation for their work in 2009 and 2007.

CEO Lloyd Blankfein will receive about $24.3 million in January, Bloomberg News reported. Gary D. Cohn, president of Goldman Sachs, will get about $24 million.

The figures are based on the stock's closing price of $167.33 on Dec. 14.

Goldman Sachs gave its top executives bonuses of restricted stock in 2009 after accepting massive assistance from the federal government to stay afloat. In 2007, investment bankers received record bonuses, including restricted stock.

A recent poll carried out by Bloomberg News showed that more than 70% of Americans believed that banks that received government assistance should not pay out bonuses.

"Clearly we now look back and say, 'Were things fine? Should they have paid? Maybe not,'" said Jeanne Branthover, a managing director at recruitment firm Boyden Global Executive Search. "There's nothing you can do about it. The payouts were in stone. But hopefully, in the future, they won't be."

Wall Street bonuses, traditionally a large portion of an employee's take-home pay, are expected to decline this year. For trading and investment banking-employees, total compensation will drop by as much as 28% from last year according to Options Group.




Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum

51 Comments

Filter by:
pwdpoocher

We should have had a LAW (written in diamond, (harder than stone) that said "if you take bailout money, then NO MORE BONUSES !") it's really just *so* simple. And then they could decide whether they wanted to survive, OR pay bonuses.

December 16 2010 at 10:15 PM Report abuse rate up rate down Reply
dandrequip

Did you know that if you buy U.S. treasury bonds, you buy them from the Fed? Did you know that the government buys them from Goldman Sachs? Did you know that the head of the New York Fed branch used to run Goldman Sachs? It goes something like that anyway. And this is just like all the bailouts. GM? Thousands of Americans lost billions of dollars when GM went bankrupt. The government gave billions of our money to GM. Then GM went back on the stock market and thousands of Americans gave them billions to start to pay ourselves back. WHAT??? And our government acts like we are stupid enough to go along with their back patting. Maybe we are.

December 16 2010 at 6:57 PM Report abuse rate up rate down Reply
smick1953

Decline? Yes, they should STOP! These people shafted this country and now get these hefty bonuses? No way! Each one of us who lost our jobs, our houses, our retirement, should be getting these "bonuses'! This is what this country is all about now: The rich get richer and everybody else gets poorer!

December 16 2010 at 6:11 PM Report abuse rate up rate down Reply
xtralucky1

******* CROOKS IS ALL THEY ARE EVERY DAMN ONE OF THEM ( CROOKS).

December 16 2010 at 5:40 PM Report abuse rate up rate down Reply
FRANCINE & JIM

WELL THEY WILL BUY GROCERIES THIS WEEK, MORE THAN I CAN SAY FOR MYSELF. MY BUDGET IS SO TIGHT THAT WHAT IS LEFT OVER I BUY GROCERIES . THIS ONTH IT IS 176.00 FOR A MONTH. TAKE MY ADVICE AND DONT RETIRE. I AM 70 YRS NOW AND NOBODY WILL HIRE ME

December 16 2010 at 5:34 PM Report abuse rate up rate down Reply
skiman1054

WOW,ALMOST BANKRUPT, PULLED FROM THE DEPTHS OF DESPAIR BY THE AMERICAN TAXPAYER,AND NOW THEY ARE THE POWER BROKERS, WHAT A DISGRACE

December 16 2010 at 4:55 PM Report abuse +2 rate up rate down Reply
larryeart

Ha,ha,ha,ha,ha,ha,ha,. NONE of these jerks are worth 1/10th the money they get to loot.

December 16 2010 at 4:06 PM Report abuse +3 rate up rate down Reply
Fred

Is there no laws for blue collar crooks.

December 16 2010 at 3:23 PM Report abuse rate up rate down Reply
1 reply to Fred's comment
gardeningatnite

Of course there are laws for blue-collar workers.....they go to jail for 20 years!

December 16 2010 at 3:52 PM Report abuse +1 rate up rate down Reply
pinkturkeybull

.......and the tax break is the cherry on top....

December 16 2010 at 2:46 PM Report abuse +3 rate up rate down Reply
tarpfan

I want to thank all of you taxpayers who are supporting the extension of the Bush tax cuts. Because of your generosity, I will not pay any extra taxes on this bonus. I ordered a private jet last week from France because I find the new airport security measures rude and invasive. While I understand the reasons for that kind of treatment for the peons in economy, I couldn't believe that they subjected first class passengers to it. With my own jet, that will no longer be an issue. This extra cash will also allow me to increase my investments in the asian markets that are doing really well right now. After you all bailed us out two years ago, all I can say to you folks is thank you for being the gift that keeps on giving.

December 16 2010 at 2:45 PM Report abuse +3 rate up rate down Reply