Goldman executives cash in $26.8 million in stock on New Year's Eve
(Reuters) - Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein and departing Chief Financial Officer David Viniar both exercised restricted stock units on New Year's Eve that delivered them $4.2 million in cash apiece.
Other executives, including Vice Chairmen Michael Evans and John Weinberg, Global Head of Human Capital Management Edith Cooper, Chief of Staff John Rogers, General Counsel Greg Palm, Global Head of Compliance Alan Cohen, and Chief Accounting Officer Sarah Smith, also exercised restricted stock units that generated anywhere from $1.5 million to $3.8 million, according to filings with the U.S. Securities and Exchange Commission late on Monday.
Altogether, the nine executives received $26.8 million through stock sales on Monday, selling shares at an average price of $126.24. The shares were not awarded as 2012 compensation; rather, they were grants that were awarded in prior years.
In recent months, top Goldman executives have been cashing in on those grants before they expire. Including his stock sales on Monday, Blankfein has taken home $10.1 million in proceeds from such transactions since October.
The transactions come amid a broader rally in bank shares. Goldman's stock soared 41 percent in 2012, to close the year at $127.56.
Goldman representatives did not immediately respond to a request for comment.
(Reporting by Lauren Tara LaCapra, editing by Gary Crosse)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.