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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].