About 20 Goldman Sachs executives were in line for five-year equity awards currently projected at around $500 million. The awards were granted in October 2021 and are approaching the end of their performance period. Their final value is expected later in October and will depend on Goldman's share price and performance against peers. The current estimate should therefore not be treated as a final payout.
Financial Times reporting put the aggregate projected value above $500 million, while the Guardian described a pool worth up to that amount. Chief executive David Solomon's portion was estimated at about $100 million, with president John Waldron and other senior business heads also included. Goldman said the board created the awards to align compensation with performance, support leadership continuity and retain senior staff. Reuters reported the development while attributing the first account to Bloomberg.
FIVE-YEAR PERFORMANCE PERIOD NEARS COMPLETION
The equity awards date from 2021 rather than a new grant this month. Their value reflects the rise in Goldman shares over the performance period and comparative returns against large banking peers. That structure means the value can still move before the board determines the final outcome later in October.
Solomon's projected share would exceed his most recent annual compensation, but the measures are not directly comparable. The long-term awards cover five years and were designed around performance and retention conditions. Describing them as already paid would therefore overstate the current milestone.
FINAL VALUE REMAINS THE NEXT MILESTONE
The awards arrive as Goldman prepares to report third-quarter results on 13 October. Those earnings will provide a fresh measure of performance, but they do not by themselves determine the five-year award value. Investors will also assess how the board explains the scale and governance of the package.
The final award determination later in October is the next concrete milestone. Any change in Goldman's share price or relative performance before then could alter the projected value. Until the board completes that process, the figures remain estimates rather than settled compensation.