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Goldman Cuts Blankfein's Bonus
February 6, 2012
[ by Melanie Gretchen ]
Goldman Sachs CEO Lloyd Blankfein had his annual stock bonus cut for the first time since the financial crisis began - the latest impact on Wall Street executives amid mixed financial performance and steep stock-price declines.
All told, Goldman awarded Mr. Blankfein restricted shares worth $7 million for 2011, 44% less than his $12.6 million bonus for 2010; in 2008, the year Goldman accepted government funds, Blankfein received no bonus for 2008.
The firm has not disclosed how much of a cash bonus, if any, Blankfein will receive for 2011 - that figure will be disclosed in a subsequent SEC filing. In 2011, Blankfeim earned $2 million in salary, up from $600,000 in 2010. In 2010 he also received a cash bonus of $5.4 million.
Four other Goldman executives - President Gary Cohn, Vice Chairmen John Weinberg and J. Michael Evans, and CFO David Viniar - each received $7 million in restricted stock, according to Goldman's filings. They, too, had received $12.6 million in restricted stock for 2010.
For more details, go to [WSJ].

