$9M Stock Bonus for Blankfein

CALIBRATED CASH

Updated Apr. 25, 2017 10:54AM EDT / Published Feb. 05, 2010 1:56PM EST

Contradicting rumors that his bonus would be six figures, Goldman Sachs' CEO Lloyd Blankfein has announced his $9 million, no-cash bonus, the smallest payout in the company's history in a record year for profits. Goldman's board voted on the amount—which is in stock compensation, not cash—Friday afternoon, and gave the same amount to Blankfein's top lieutenants. Goldman has been under scrutiny for returning to high salaries after recovering from the credit crisis, but Blankfein’s $9 million clocked in far below the $17 million bonus given to J.P. Morgan Chase CEO James Dimon this year. Dimon and Blankfein took no bonus last year, but in 2007 Dimon racked in $39.1 million and Blankfein $68 million. While J.P. Morgan argues they let shareholders vote on compensation, the owner of NAB Research Nancy Bush says Dimon's "bonus looks to be 'in-between' to me," and that it shows, "a concession to Washington, but definitely not a 'bowing down.'"

Read it at The Wall Street Journal

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$9M Stock Bonus for Blankfein