Goldman Sachs CEO Receives $5.4 Million Cash Bonus (GS)

Goldman Sachs GS CEO Lloyd Blankfein received a $5.4 million cash bonus in 2010, according to regulatory filings. The bonus, only a portion of Blankfein's $19 million compensation package, adds to a $600,000 salary, and more than $12 million in stock. Further, Mr. Blankfein gained more than $27 million in returns from his investment in Goldman Sachs funds. According to a New York Times Dealbook report, "Wall Street executives used to receive a big portion of their annual compensation in cash. The amount would range from roughly 20 percent for senior executives to more than 50 percent for middle managers and junior staff. But during the financial crisis, that practice came under fire as lawmakers and others argued it encouraged unnecessary risk-taking. In recent years, banks have been handing out more stock-based compensation, a move that lawmakers argue should better tie employee interests to the long-term performance of a financial firm." Five other Goldman senior executives received $5.4 million bonuses for 2010. Shares of Goldman Sachs gained $1.63, or 1%, to close at $160.23 on Friday.