Monday, May 16

Goldman shareholders urged to vote against one-off executive bonuses – FT


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Proxy adviser Glass Lewis has recommended that Goldman Sachs Group Inc’s investors vote against special bonuses awarded to its top two executives at the bank’s shareholder meeting, the Financial Times reported on Friday.

In a regulatory filing in October last year, the bank said it would grant performance-based stock worth $30 million to Chief Executive Officer David Solomon, and $20 million in stock to John Waldron, the bank’s president. The awards would be paid out in October. 2026.

The awards were then expanded in January to include other members of the bank’s management, the Financial Times report said. (https://on.ft.com/3jheJWv)

Shareholders will vote on the compensation plans at Goldman’s annual general meeting, scheduled on April 28.

The bank declined to comment on a request from Reuters. (Reporting by Niket Nishant in Bengaluru and Matt Scuffham in New York; Editing by Shailesh Kuber)



financialpost.com