Goldman Sachs Group Inc. (GS) said its Chairman and Chief Executive Officer Lloyd Blankfein has been awarded bonus of $9 million in the form of restricted stock for 2009.
Goldman Sachs that reported $13.4 billion profit in 2009 said Blankfein will receive more than 58,381 shares of restricted stock that can't be cashed in for five years, according to a filing with Securities and Exchange Commission. Blankfein received a base salary of $600,000 for 2009 and will receive no cash as part of his bonus.
Bankers' executive compensation has been a focus issue and a much discussed one during the financial crisis, as the U.S. government had spent billions in taxpayer funds to bailout the banking system.
Blankfein received $70 million in total compensation in 2007 and took no bonus in 2008, when the economy collapsed.
David Viniar, the company's chief financial officer, and Gary Cohn, Goldman's chief operating officer and President and Vice Chairmen Michael Evans and John Weinberg also received $58,381 stock units, worth $8.99 million based on Friday's closing share price of $154.16.
Goldman Sachs said in December 2009 that the entire 30-person management committee would receive their year-end performance bonus in the form of stock that they can't sell for five years and no cash bonus.
For the fourth-quarter, Goldman Sachs posted net earnings of $4.95 billion and net earnings applicable to common shareholders of $4.787 billion.
Early Friday, JPMorgan Chase & Co (JPM) said its chief executive officer and co-chairman James Dimon has been awarded an all-stock bonus in the form of restricted stock and options of approximately $17 million for 2009.
Morgan Stanley Chairman John Mack didn't take any bonus for 2009, the last year he was CEO. James Gorman who succeeded Mack as CEO at the start of this year, was awarded deferred stock grants valued at about $8.6 million for 2009.
GS closed at Friday's regular trading session at $154.16, up $3.48 or 2.31%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.