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Goldman Cuts Blankfein's Pay to $22 Million for 2016

  • Bank also eliminate’s CEO’s long-term incentive award
  • Compensation structure changed to reflect relative performance
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Goldman Sachs Group Inc. reduced Chief Executive Officer Lloyd Blankfein’s compensation 27 percent, awarding him $22 million for 2016 after eliminating a long-term incentive award.

Blankfein, 62, received $16 million in performance shares and a $4 million cash bonus, in addition to his $2 million salary, the New York-based firm said Friday in its annual proxy filing. Unlike past years, all of the CEO’s equity-based awards were linked to performance.