Goldman CEO David Solomon Receives $80 Million Retention Stock Award

Goldman Sachs Group Inc GS has granted retention-focused stock awards to its top executives, Chairman and CEO David Solomon and President and COO John Waldron, in a bid to ensure leadership stability and continuity.

The $80 million restricted stock units (RSUs) for each executive reflect the Board’s commitment to retaining its senior team while aligning their interests with long-term shareholder value.

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The RSUs, approved by the board on Thursday, are designed to support the firm’s strategic priorities and maintain strong succession planning.

The company noted in an SEC filing that these stock-based awards feature a five-year cliff vesting schedule, meaning they will vest in January 2030.

The vesting is contingent on continuous service, with limited exceptions like death or disability.

Additionally, the RSUs are tied to Goldman Sachs’ forfeiture and clawback policies, ensuring accountability for improper risk management or failure to fulfill obligations.

The decision to award the RSUs reflects the board’s acknowledgment of Solomon’s and Waldron’s leadership in driving the firm’s strategic goals.

These retention-focused awards are not part of the executive’s annual compensation. For 2024, Solomon’s total annual compensation was $39 million, up from $31 million in 2023.

On Wednesday, Goldman Sachs reported its fourth-quarter and full-year 2024 financial results.

Goldman Sachs reported fourth-quarter revenue of $13.87 billion, beating the consensus of $12.39 billion. Revenue increased by 23% year-over-year, reflecting growth across all segments, with significant growth in Global Banking & Markets.

Full-year revenue was $53.51 billion, up 16% YoY, beating the consensus of $51.98 billion.

Price Action: GS stock was up 1.77% at $623.87 at last check Friday.

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