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Goldman Won't Dole Out Cash Bonuses

Top execs will get stock that can't be cashed for five years

By Nick McMaster,  Newser Staff

Posted Dec 10, 2009 4:57 PM CST

(Newser) – No cash bonuses for top Goldman Sachs executives this year. Instead, the Wall Street giant will pay its 30 top execs bonuses in the form of restricted stock that can't be cashed for five years. And the company can get the shares back if the performances they were based on turn out to be short-lived. Goldman shareholders will get to vote on the compensation practices next year, reports the New York Times.

Goldmann Sachs CEO Lloyd Blankfein speaks in June.
Goldmann Sachs CEO Lloyd Blankfein speaks in June.   (AP Photo/Ariel Schalit)
In this Sept. 25, 2008, file photo, Lloyd C. Blankfein, CEO of Goldman Sachs, speaks at a luncheon at United Nations headquarters.
In this Sept. 25, 2008, file photo, Lloyd C. Blankfein, CEO of Goldman Sachs, speaks at a luncheon at United Nations headquarters.   (AP Photo/David Karp, file)
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COMMENTS
Showing 2 of 2 comments
dax
Dec 11, 2009 2:56 AM CST
Work around.
Snarfeh
Dec 10, 2009 11:34 AM CST
It was god's idea, of course....
 

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