SHOCKING GOLDMAN SACHS PAY PLAN! EXECUTIVES’ $80 MILLION BONUSES REJECTED BY ADVISORS!
MILLIONS ON THE LINE! Will Goldman Sachs shareholders take a STAND?
In a jaw-dropping twist, Goldman Sachs is under fire over mind-boggling bonuses handed to CEO David Solomon and President John Waldron, each pocketing a staggering $80 million! An advisory firm, Glass Lewis, has thrown down the gauntlet, declaring that these outrageous payouts should be flat-out REJECTED by shareholders!
NO PERFORMANCE, NO PROBLEM?
Just when you thought it couldn’t get more shocking, it turns out that these eye-popping bonuses are NOT even tied to performance metrics! Straight cash! According to the report, these money-grab awards completely DEVIATE from Goldman’s historical trend of performance-based equity. What does that mean? Basically, free money for Solomon and Waldron without any strings attached!
Wall Street STUNNED as Bonuses soars!
While the media buzzes about “high levels of poaching” at the bank, shareholders have been fed generic excuses for why these top-tier execs deserve such extravagant compensation. Glass Lewis calls it egregious and warns that this alone should spur a firm “NO” vote at the upcoming shareholders’ meeting on April 23 in Dallas!
TOP DOGS FIGHT TO STAY!
These colossal retention bonuses were designed to keep Solomon and Waldron in their coveted positions, as many on Wall Street eye Waldron as Solomon’s likely successor. These bonuses are in addition to their already impressive annual salaries, which, last year, clocked in at $39 million and $38 million respectively—almost laughable compared to the awards received by rival CEOs!
SHAREHOLDER UPRISING LOOMING!
Insiders at Goldman have been buzzing with worry that shareholders will totally REJECT this lavish pay plan! Only JPMorgan Chase has faced such a dramatic investor backlash in recent years, when frustrated shareholders revolted against a $50 million special award for Jamie Dimon in 2022. Consequently, JPMorgan promised no more special bonuses for Dimon.
SHOCKING STATISTICS!
Even more alarming, Goldman Sachs saw a drop in shareholder support for executive compensation, plummeting from 94% to 86% in just a year. Are investors finally waking up to the excessive payouts being handed out to their top dogs?
And let’s not forget about the new carried interest pay plan that also has shareholders reeling, making it tough to figure out what’s REALLY going on with executive compensation!
Buckle up, folks! April 23 could spell disaster for Goldman Sachs if shareholders make their voices heard loud and clear! Stay tuned for the fallout!
photo credit: www.ft.com
