According to Bloomberg’s Best, Goldman Sachs , the fifth- biggest U.S. bank by assets, gave Chairman and CEO Lloyd Blankfein a $7 million restricted-stock bonus for 2011, a decrease from $12.6 million a year earlier.
Blankfein, 57, received 61,702 shares on Feb. 1, according to a filing with the U.S. Securities and Exchange Commission. The stock closed at $113.45 in New York that day. Goldman Sachs raised Blankfein’s salary to $2 million last year from $600,000.
Goldman Sachs’s 2011 earnings dropped 47 percent to the lowest level since 2008 on a second consecutive annual decline in fixed-income trading revenue. The New York-based firm reduced compensation 21 percent and eliminated 2,400 jobs. The stock fell 46 percent in 2011, more than the 18 percent drop in the S&P 500 Financials Index.
Read all about it at http://www.bloomberg.com/news/2012-02-03/goldman-s-blankfein-awarded-7m-in-stock-for-11.html
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