Goldman Sachs executives in line for stock awards worth about $500 million

Goldman Sachs executives are in line for stock awards valued at about $500 million, according to reports published on October 8, 2026, ahead of the conclusion of a five-year performance plan at the Wall Street bank. About 20 executives could share the awards, but their final value has yet to be confirmed.

Bloomberg reported that the awards would exceed $500 million at the then-current share price. The Guardian described a pool worth up to $500 million. Both figures are estimates, so the difference between them should not be read as a settled payout. The reported value matters because the awards were designed to make senior executives’ compensation depend on Goldman’s longer-term stock performance.

How much could David Solomon receive?

Chief executive David Solomon is in line for the largest individual award. Bloomberg put his estimated share at more than $100 million; the Guardian put it at about $100 million. Neither figure represents confirmed proceeds received by Solomon. The reported total is a stock-based reward for a group of executives, rather than a cash bonus already paid.

The Guardian also identified Goldman president John Waldron and the co-heads of global banking and markets, Ashok Varadhan and Dan Dees, among executives in line for payouts. Its report said the final sum was due to be confirmed later in October. Until then, the value attributed to each recipient remains an estimate.

What determines the Goldman Sachs awards?

The filing called the arrangement the Shareholder Value Creation Award. It said the stock-based awards were subject to performance and time-based vesting conditions over a five-year period. They were separate from the executives’ regular annual compensation and were not intended to be awarded regularly. That distinction is essential when comparing the reported potential payout with an annual salary or bonus.

Half of the performance calculation was tied to Goldman’s absolute total shareholder return, and half to its return relative to a specified peer group, according to the filing. The peers named were Bank of America, Citigroup, JPMorgan Chase, Morgan Stanley, Bank of New York Mellon and Wells Fargo. Preset thresholds determined how much of the target award could be earned; the payout could vary with the results.

The 2021 filing said earned amounts would be settled in Goldman common shares around the fifth anniversary of the grant. It also said the shares would remain subject to transfer restrictions for another year. Those terms mean an estimated award value at a particular share price is different from money an executive has already realized.

Why Goldman created the plan

Goldman said in its 2021 filing that the board wanted to maintain leadership continuity, link pay to long-term shareholder value creation and retain senior staff amid competition for talent. In comments reported by the Guardian on Thursday, a bank spokesperson gave the same three reasons for the awards: performance thresholds, leadership continuity and retention. The spokesperson said the firm had performed exceptionally well in the intervening years.

The Guardian reported that Goldman shares had risen about 146% over five years and roughly 300% since Solomon became chief executive. Those share-price changes help explain why the potential awards have attracted attention. They are not, by themselves, the final award calculation: the filing describes a test that also includes relative total shareholder return and vesting conditions.

What remains to be confirmed

The amount ultimately awarded to the executives remains open. The Guardian said confirmation was expected later in October, while Bloomberg reported that the awards were expected to be finalized later that month. The reports come days before Goldman is due to release third-quarter earnings on October 13, according to the Guardian. That earnings date is separate from the expected confirmation of the stock awards.

The central distinction for shareholders and readers is between an estimated current value and a completed payout. Goldman’s filing sets out the original structure for Solomon’s and Waldron’s awards; the October reports describe the much larger value now anticipated for a wider group of executives. The final figures will determine the scale of the awards more precisely.