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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
Goldman Won't Dole Out Cash Bonuses
Goldmann Sachs CEO Lloyd Blankfein speaks in June.   (AP Photo/Ariel Schalit)

(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. (Read more Goldman Sachs stories.)

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