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January 31, 2014

Goldman Awards Blankfein $14.7 Million in Stock Bonus

“Goldman Sachs’s board granted its chief executive, Lloyd C. Blankfein, restricted shares worth $14.7 million as part of his pay package for 2013, according to a filing made public on Thursday.”
 
“Goldman will disclose the cash portion of Mr. Blankfein’s bonus in the coming weeks. Mr. Blankfein and other senior executives are typically awarded a 70-30 split between stock and cash.”
 
“If that holds true, Mr. Blankfein’s cash award will most likely be around $6 million. And including Mr. Blankfein’s salary of about $2 million, his total compensation for 2013 will probably be around $23 million, up about 9.5 percent from $21 million in 2012.”
 
“That amount would still be a far cry from Wall Street’s boon years. In 2007, the year before the financial crisis reached its peak, Mr. Blankfein made $68.5 million. He led Goldman Sachs through the collapse, which nearly toppled the bank as it did other major Wall Street firms.”
 
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Read full New York Times Deal Book article here.
 
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