Top Goldman Execs to Get Only Stock in Bonuses
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Goldman Sachs Group Inc. (GS), under fire from pundits and politicians for allocating $16.7 billion to pay employees this year, said its top 30 executives will get year- end bonuses in stock that will be locked up for five years.
The awards will be comprised of so-called shares-at-risk, allowing Goldman Sachs to repossess them if the firm determines that the executive failed to adequately analyze or raise concern about risks, the New York-based company said in a statement today. Goldman Sachs will also give shareholders a non-binding vote on compensation.