How Goldman Sachs Partners Get Paid: Interview With CEO Lloyd Blankfein (WATCH)
Video: High-pitch Lloyd on CNN -- December 22, 2009
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NEW YORK (CNNMoney.com) -- Goldman Sachs stunned many in the Wall Street community Friday by awarding chief executive Lloyd Blankfein $9 million as his year-end bonus, far less than many were anticipating, and none of it in cash.
Following weeks of speculation about what the top executive at Wall Street's leading investment bank would take home as his discretionary pay for 2009, the company revealed in a securities filing it was paying Blankfein 58,381 shares of company restricted stock.
Using Friday's closing stock price of $154.16 would leave Blankfein with the roughly $9 million figure. As part of his compensation, he would not be able to sell those shares for several years.
Blankfein will also receive no cash as part of his year-end reward. In December, the company announced its 30-member management committee had declined to accept any cash bonuses for the year, amid public outrage over Wall Street bonuses.
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Feb 10, 2010 at 5:16 PM
Reader Comments (1)
I bet the douchebag has it all sliced & diced within minutes into untraceable paper derivatives that he'll SELL RIGHT BACK to the U.S. government to the tune of $ 900 MILLION in small denomination, unmarked bills*!
* EURO bills, of course!