Goldman Sachs Group Inc.'s most senior leaders are set to unlock a special bonus that will rank among the biggest such payouts the firm has ever awarded, with about 20 executives in line for equity awards that will be finalized later this month and exceed $500 million at the current share price. Chief Executive Officer David Solomon is in line for more than $100 million of that total. The awards were first announced in 2021 and were originally intended only for Solomon and his deputy, President John Waldron, but after pushback from shareholders and employees, the board broadened the package to the management committee, bringing in roughly 20 to 25 people, about 20 of whom remain at the bank. Solomon also has a separate incentive award of roughly $80 million on standby that carries no performance threshold and only requires him to stay at Goldman Sachs for another five years. The bank hit the maximum triggers on the awards, with the stock rising from around $400 when the awards were put in place to around $900 a share, and its five-year returns of about 150% placing it near the top of a six-peer group, behind only Bank of New York Mellon at 175%.
Goldman Sachs Group IncGoldman's top executives, including CEO Solomon, are set to unlock special equity bonus awards exceeding $500 million after the bank hit maximum performance triggers.
