Goldman Sachs Executives to Collect Over $500 Million in Special Equity Awards

Goldman Sachs Group executives are set to receive equity awards exceeding $500 million at the current share price, with payouts expected to be finalized later this month, Bloomberg reported. The awards stem from the bank's Shareholder Value Creation Award, launched in October 2021, covering roughly 20 executives who remained with the firm. CEO David Solomon is in line for the largest individual payout, exceeding $100 million. President John Waldron and business line heads Ashok Varadhan, Dan Dees, and Marc Nachmann are also recipients. Half of each award depends on stock price targets, which Goldman shares have surpassed enough to unlock full payment, Bloomberg reported. The other half measures performance against six peer companies over five years. Goldman returned about 150% over that span, trailing only Bank of New York Mellon Corp.'s 174%. The original grants, limited to Solomon and Waldron at roughly $50 million combined, were broadened after shareholder pushback.