Goldman CEO Blankfein gets $9 million stock bonus

By IBTimes Staff Reporter | February 05 2010 5:16 PM

Goldman Sachs Group Inc on Friday awarded chief executive Lloyd Blankfein and other executives a stock bonus worth almost $9 million, according to a filing with the U.S. Securities and Exchange commission.

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Goldman, Wall Street's dominant company, has been lambasted for its quick return to outsized profits and bonuses so soon after U.S. taxpayers had to rescue the financial services industry.

Blankfein, along with Chief Financial Officer David Viniar and president and chief operating officer Gary Cohn, received 58,381 stock units, worth $8.99 million based on Friday's closing share price.

The units do not convert into shares until 2011 at the earliest, and once converted they cannot be sold or transferred before January 2015, according to the filing.

JPMorgan Chase & Co on Friday reported that CEO Jamie Dimon would get a compensation package worth about $16 million. The compensation was in a mixture of restricted shares and options, and Dimon did not take a cash bonus.

Goldman Sachs shares closed up 2.3 percent on Friday at $154.16.

(Reporting by Steve Eder; additional reporting by Jonathan Stempel and Elinor Comlay)