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Goldman Executives Awarded Shares to Cover Tax Payments
[ by Melanie Gretchen ]
The Goldman Sachs Group rang in the New Year 2013 by awarding tens of millions worth of company stock the highest-ranked executives in the firm. The distributed shares had nothing to do with 2012 compensation. Rather, they had been granted were pegged to restricted stock awards granted to these individuals in earlier years.
All told, 508,000 shares were distributed, according to an SEC filing, and 245,838 shares were sold by the executives, generating a little over $31 million. The sales proceeds were earmarked for personal income tax liabilities. Based on Monday's closing price of $126.24m the unsold shares had a market value in excess of $33 million.
The Fortunate Executives.
- CEO Lloyd Blankfein
- COO Gary Cohn
- Vice Chairman Michael Evan
- Vice Chairman John Weinberg
- Global Head of Human Capital Mgmt Edith Cooper
- Chief of Staff John Rogers
- General Counsel Greg Palm
- Global Head of Compliance Alan Cohen
- Chief Accounting Officer Sarah Smith
For further details, go to [CNBC, 1/2/13].
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