MNeagle
14th August 2010, 07:40 AM
http://www.bloomberg.com/apps/data?pid=avimage&iid=iA9YteV1hv14
Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., chats with other attendees prior to a speech by U.S. President Barack Obama speech about financial reform at Cooper Union in New York on April 22, 2010. Photographer: Daniel Acker/Bloomberg
Lloyd C. Blankfein, Goldman Sachs Group Inc.’s chairman and chief executive officer, made $6.1 million by exercising options granted to him in 2000 that were due to expire in November.
The options allowed Blankfein, 55, to buy 90,681 shares for $82.875 apiece and sell them at prices ranging from $148.97 to $152 each on Aug. 11, according to a filing yesterday with the Securities and Exchange Commission. Gary D. Cohn, Goldman Sachs’s president, made a $4.95 million profit by exercising 73,653 options and David A. Viniar, the chief financial officer, reaped $4.52 million by exercising 67,326 options, separate filings showed.
Goldman Sachs, which set a Wall Street profit record for a securities firm, has dropped 12 percent in New York Stock Exchange Composite trading so far this year. Still, yesterday’s closing price of $148.08 is up 79 percent from the close of $82.875 on Nov. 29, 2000, making the option grants lucrative for senior management.
Blankfein, Cohn and Viniar are restrained from selling more than 10 percent of their stock under the terms of an agreement reached with Warren Buffett’s Berkshire Hathaway Inc. when Berkshire agreed in September 2008 to buy $5 billion of Goldman Sachs preferred stock. All three must hold at least 90 percent of their common stock until Oct. 1, 2011, or until Berkshire redeems its investment, whichever comes soonest.
SEC filings also show:
John S. Weinberg, a vice chairman and co-head of investment banking, had a $3.89 million profit by exercising 57,915 options.
Gregory K. Palm, co-general counsel had a $3.22 million profit by exercising 47,895 options.
Esta E. Stecher, co-general counsel, had a $1.54 million profit by exercising 22,890 options.
Sarah G. Smith, Goldman Sachs’s chief accounting officer, had a $243,912 profit by exercising 3,633 options.
http://www.bloomberg.com/news/2010-08-13/goldman-sachs-chief-blankfein-reaps-6-1-million-from-exercising-options.html
Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., chats with other attendees prior to a speech by U.S. President Barack Obama speech about financial reform at Cooper Union in New York on April 22, 2010. Photographer: Daniel Acker/Bloomberg
Lloyd C. Blankfein, Goldman Sachs Group Inc.’s chairman and chief executive officer, made $6.1 million by exercising options granted to him in 2000 that were due to expire in November.
The options allowed Blankfein, 55, to buy 90,681 shares for $82.875 apiece and sell them at prices ranging from $148.97 to $152 each on Aug. 11, according to a filing yesterday with the Securities and Exchange Commission. Gary D. Cohn, Goldman Sachs’s president, made a $4.95 million profit by exercising 73,653 options and David A. Viniar, the chief financial officer, reaped $4.52 million by exercising 67,326 options, separate filings showed.
Goldman Sachs, which set a Wall Street profit record for a securities firm, has dropped 12 percent in New York Stock Exchange Composite trading so far this year. Still, yesterday’s closing price of $148.08 is up 79 percent from the close of $82.875 on Nov. 29, 2000, making the option grants lucrative for senior management.
Blankfein, Cohn and Viniar are restrained from selling more than 10 percent of their stock under the terms of an agreement reached with Warren Buffett’s Berkshire Hathaway Inc. when Berkshire agreed in September 2008 to buy $5 billion of Goldman Sachs preferred stock. All three must hold at least 90 percent of their common stock until Oct. 1, 2011, or until Berkshire redeems its investment, whichever comes soonest.
SEC filings also show:
John S. Weinberg, a vice chairman and co-head of investment banking, had a $3.89 million profit by exercising 57,915 options.
Gregory K. Palm, co-general counsel had a $3.22 million profit by exercising 47,895 options.
Esta E. Stecher, co-general counsel, had a $1.54 million profit by exercising 22,890 options.
Sarah G. Smith, Goldman Sachs’s chief accounting officer, had a $243,912 profit by exercising 3,633 options.
http://www.bloomberg.com/news/2010-08-13/goldman-sachs-chief-blankfein-reaps-6-1-million-from-exercising-options.html